Ann: Neometals Successfully Closes A$4 Million Placement, page-3

Yep and slightly more worryingly this time I'm not sure if the insto's and soph's had the appetite this time.

The cap raise presentation states:

Raising approximately A$9.0 million in
new equity capital at A$0.09 per share
via a placement to institutional and
sophisticated investors and a nonrenounceable entitlement offer.

But this announcement states:

Neometals Successfully Closes A$4 Million Placement
and Announces Entitlement Offer


To me that reads we tried for 9 mill but only managed to get people to cough up 4.... so yes successful in raising some, but not the goal that we were after.

Also as this was sitting in the .06's not that long ago I'm guessing the retail component may again be hard to fill as nothing has materially changed since the last raise. First income isn't likely till mid 25 when the order books open unless Barrambie magically gets sold. The last raise was in December 23 and the share price has halved since then and all we have had is a lithium opportunity vaporize and a side quest of a precious metals recovery project also vanish.

I might be looking at this glass half empty but after the loss I'm currently sitting on I think its the only fair thing to be doing until we get positive forward momentum on a project, some positive cashflow or I decide to crystalize a loss and move on.

Happy for anyone to have a different take on what's above and prove to me the positives.