Its common practice for companies to ask for approvals like that...

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Miningdoctor

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20/11/21

19:29

Post #: 57725849
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Originally posted by Rainman56: ↑

Had a read thru the AGM blurb this morning.
The company is seeking to gain approval for an additional 10% to issued securities over and above the 15% they are allowed to issue on a 12 month basis if I read it right . (Others who have a clue please advise.)

My take on this is we might need some funds ina hurry to help gear up production wise for what might be a tidal wave of business as things break over the next 12-24 months. Happy to put my hand in my pocket.

Cashflow wise we are ok right now. My ‘feel’ (hate using that word) is the big guys are already set and will take up their share. Drifting price on low volumes now will help reduce the discounted price at which these securities will be issued post AGM, meaning cheaper chips for everyone and more chips for the big guys.

Alternatively, the above resolution is passed, we get some good news, sp off to the races and the next cr at 15c (for reasons mentioned above) which was when we had the last one.

I am inclined to back the company on this one but am a VERY small fish

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Its common practice for companies to ask for approvals like that to have flexibility if a major new project pr agreement is entered in the future. It also allows them to also do a premium placement to a new strategic investor or partner. As things continue to move upwards, this flexibility is a good thing.

BCT Price at posting: 5.2¢ Sentiment: Buy Disclosure: Held
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