Hi Croc,
I am surprised you call this death spiral finance, It is no different from your Chairman providing a loan to the company then converting the interest or loan into shares, or the shareholders who provided a 17% interest rate loan to WKT, then had their loan paid out in shares.
MRC has detailed any conversion of equity into shares will need shareholder approval. I have already stated I will vote against the resolution. I hope all MRC shareholders have a similar view.
@norway4 - I was simply advising the value based on the current SP is only $780k. Which I believe is cheap. When the DFS was completed in 2019/2020 the SP was 25 cents. this means Gold Terrace would have been issued $7.5mil worth of shares, which I believe is over the top.
We have all seen Gold Terrace sell their shares after the former CEO MVC was terminated, we have also seen Gold Terrace take part in a 249d action to appoint MVC as the CEO of EMC, I would much prefer Gold Terrace to sell at the lowest price possible. if they intend to stick around to benefit from the upside it is completely upto them.
Hi Croc,I am surprised you call this death spiral finance, It is...
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Change
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Mkt cap ! $24.61M | |||
| Open | High | Low | Value | Volume |
| 2.5¢ | 2.5¢ | 2.5¢ | $702 | 28.08K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33594 | 2.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.5¢ | 44635 | 2 |
View Market Depth
| Last trade - 14.18pm 30/04/2024 (20 minute delay) ? |
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Last
2.5¢ |
Change
0.000 ( 4.17 %) |
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| Open | High | Low | Volume | ||
| 2.5¢ | 2.5¢ | 2.5¢ | 57013 | ||
| Last updated 14.18pm 30/04/2024 ? | |||||
| MRC (ASX) Chart |