The discount seems more than it should be because the stock was sitting 1.3 to 1.4c most of the time for weeks and they would have negotiated the placement then.
On Tuesday there was more buying to take it to 1.6c which they may not have expected.
I think this might have happened due to their presentation at IMARC CONFERENCE.
Anyway not sure why some think the Saudis won't fund future CAPEX. If it is in their in their interest they will do offtake and fund at least 70% to make sure they get their product.
This placement has no bearing on the bigger picture as we may need $200mil minimum plus just for mining and benefication which is what the Saudis and other funders will get involved in.
Ann: Placement and Rights Issue to raise up to approx $4.62M, page-23
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.91M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.6¢ | 0.6¢ | $2.706K | 451.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 12603170 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 1487803 | 3 |
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| SRN (ASX) Chart |