Ann: Mt Adrah Gold Project - Drilling Update, page-55

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Erg0ph0bia

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20/06/17

18:26

Post #: 25387998
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Originally posted by DollarDan ↑

The second Placement of about 91m shares was about 10% ( I'm assuming the years allowable placement capacity) and you are right it didn't go down well, as this one was to private investors only and at a discount to market (but 20% higher than the previous raise, and 40% the SPP, I might add so the right direction). ''Thread" shareholders disliked the discount and accused management of lining their pockets. The board withdrew this one. It did not proceed.

The actual 2nd (or third attempt if you like) capital raise was once again a rights issue at .003. (which is nearly 100% higher than the SPP price from old management just one year earlier). So available to all holders on a pro rata basis. It was Non- renounceable, meaning holders could not on sell their right to a share. It was not at a discount to market (interestingly "thread" holders saw no discount as a slap in the face too, tough crowd). It was over subscribed.

It end up funding the lithium accusation, which saw the share price to rise to .007 and settle for some time at .006 for a 100% gain off the second issue or 300% gain off old managements SPP just 18 months earlier.

In that 18 months GTT took the Market cap from $800k to ~$9.8m or 12 times... Not too shabby really.

I still maintain that management prior to GTT were the true wealth destroyers here.

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you sure do know your SOC/4CE history

the raising at 0.3c was totally unnecessary and designed to line the pockets of the few.

why raise capital when there was over $2M on the way? why set the price BEFORE releasing the good news?

4CE Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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Ann: Mt Adrah Gold Project - Drilling Update, page-55

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