You've got to be kidding. Sure, most raises create some selling pressure. But flow-through raises are heaps better than a typical CR.
There would be heaps more selling pressure if they raised $3.3m at say a 15% discount.
Instead of issuing over 15m shares to raise $3.3, they only issued 7m new shares. That's a lot less selling pressure.
Not only that, the block trade of those shares was at 23c - no discount to current price - so little incentive to sell until the SP is higher.
These flow-through raises are awesome, makes Canadian lithium attractive investments.
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Open | High | Low | Value | Volume |
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3 | 145002 | 0.125 |
1 | 13888 | 0.081 |
1 | 500000 | 0.050 |
1 | 1000000 | 0.035 |
Price($) | Vol. | No. |
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0.140 | 13581 | 1 |
0.145 | 11798 | 1 |
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