Sorry, that's my bad guys - for some reason i remembered it to be a $10m loan. That being said 4.4m + 0.586m (per troff's calculations) that's $5m of debt that needs to be financed by equity raising. 50m shares at 10c, so 1/6th of current number of issued shares? That's still not a small dilution just to get us back to debt-free position?
I don't disagree with the fact that we needed the directors' loans to survive! and I agree that debt financing made much more sense than issuing new shares at 5.9c.
What i have a problem with is we only ended up needing the extra cash because (in my view) the Directors mismanaged hundreds of millions of cash. After having put us in this position, the are now earning a 10%(!!!!!!) return on their loan, and have limited risk since they have a mortgage over the farmland.
Sorry, that's my bad guys - for some reason i remembered it to...
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Last
44.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $346.7M | |||
| Open | High | Low | Value | Volume |
| 44.5¢ | 45.0¢ | 44.0¢ | $1.606M | 3.612M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1149600 | 44.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.0¢ | 2928247 | 50 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| RXM (ASX) Chart |