The upcoming GM marks another pivotal moment for Carnaby as it secures funding to progress key initiatives. Here's a few points to consider:
- Resolutions 3-7 finalise the $17.5 million raise, ensuring funding for Trekelano acquisition, Greater Duchess PFS, and exploration.
- Director participation signals strong internal confidence in Carnaby’s strategy and future value.
- Ratifying Tranche 1 shares (Resolutions 1 & 2) preserves the company’s ability to raise further capital without shareholder delays. This is key in a sector where timing matters.
- With shares offered at $0.31, the placement reinforces the company’s floor valuation, supported by institutional investors like Glencore and Cbus Super.
- For those accumulating shares (like me), the current price range offers significant upside as Carnaby transitions toward production.
The resolutions collectively set the stage for a productive 2025. It’s a great time to hold or accumulate as the path to production solidifies.
Voting Recommendations
Resolution 1 & 2 (Ratification of Tranche 1 Shares):Vote FOR: Retains flexibility for further funding if required without shareholder delays. This is critical to maintain momentum in exploration and PFS progression.
Resolution 3 (Approval of Tranche 2 Shares):
Vote FOR: Completes the $17.5 million placement, ensuring funding for Trekelano integration, drilling, and ongoing project development.
Resolutions 4-7 (Issue of Shares to Directors):
VoteFOR: Aligns directors’ interests with shareholders by increasing their equity stake, demonstrating their confidence in the company’s strategic direction.
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