Will go out there with a thought. Yes agree that the company only needs 1m in this SPP, but have announced that they may raise just over 13 M. Very unusual SPP, or should l say capital raise. Have they done a deal, and part of the deal is allow management to fund the ongoing lithium business. When the T/O happens, obviously the market cap reduces to what this segment is worth. Not a hell of a lot. Any capital raise would dilute the share significantly after any T/O. A back door capital raise at this price, and with what’s going on, will make it easier for management to raise money at this time, with less dilution then later on, after SPP. Question to ponder then is way it’s extended when they only what 1M? The announcement to help large institutional holders is bull crap, as there is a fixed dollar amount per HIN. At 32k max, that’s just 34 holders to take up this SPP. No need to extend this SSP. Is this a capital raise for the business down the lithium road? Seems like management are eating their cake from both sides. may prove to be a master stroke.
MTC Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held
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