This is likely the prelude to a capital raising.
Another company called Potash West (now Parkway Minerals), PWN, back in June/July 2016 came out with a State One broker coverage with a price target of 22cents when the share price was 3cents. Within a couple weeks a capital raising.
Whether VRC raises capital with institutional clients, sophisticated clients, rights issue etc. remains to be seen. Best outcome would be with someone that can help the company make the next step ie. project finance.
I can understand why existing holders would love the new Edison report talking of 27c price target as the majority of them are losing money or has seen their profit erode over the past 9-12 months.
Following a capital raising would likely be 1-2 good announcements to follow that could create some excitement.
Volt could be good for a trade soon.
This is likely the prelude to a capital raising. Another company...
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $16.63M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $3.054K | 763.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 35 | 28229832 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 397373 | 2 |
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| Last trade - 15.32pm 16/08/2024 (20 minute delay) ? |
| VRC (ASX) Chart |