Including some working capital you'd need 8-9m. On current market cap that is essentially a 1:3 cap raise. That is prior to any discount. Realistically you'd be looking at up to 40%dilution once discounts are factored in. I'm not sure exactly what $$$ have been spent so far in total, but I have a feeling that giving up a 10% stake (20% of BYE's share) would lower the risk whilst also diluting existing holders less. Really comes down to how any cap raising was performed.
A placement to sophisticated/institutions would see all holders essentially diluted, and worse off than a farm out. A rights issue would see no net dilution to holders taking part, but would be unlikely to be taken up in full due to the scale needed. A farm out would see future revenue lost, but preserve the capital structure. Downsides to everything. Personally I'm hoping for a MEL farm-in as that's where my interests are - but they only have 10m in the bank thanks to a stupid return of capital - so the risk gets quite high that point, given that MEL have already funded the convertible note for the same project.
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Last
5.9¢ |
Change
-0.001(1.67%) |
Mkt cap ! $63.64M |
Open | High | Low | Value | Volume |
5.8¢ | 6.0¢ | 5.8¢ | $2.047K | 34.94K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 97687 | 5.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.0¢ | 331777 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 97687 | 0.059 |
3 | 411580 | 0.058 |
4 | 635714 | 0.056 |
2 | 1200000 | 0.055 |
3 | 1838999 | 0.054 |
Price($) | Vol. | No. |
---|---|---|
0.060 | 331777 | 2 |
0.066 | 78500 | 1 |
0.067 | 40000 | 1 |
0.070 | 25555 | 2 |
0.073 | 14000 | 1 |
Last trade - 15.56pm 06/05/2024 (20 minute delay) ? |
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Last
5.8¢ |
  |
Change
-0.001 ( 1.69 %) |
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Open | High | Low | Volume | ||
5.8¢ | 5.8¢ | 5.8¢ | 10526 | ||
Last updated 12.21pm 06/05/2024 ? |
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