No, your first instinct was right.
Either we need money and therefore a raise, or we don't because the company is generating cashflow and the share price is irrelevant then since it has no impact on the company's operation.
A raise to increase "the liquidity and the quality of the shareholder base" is one of the most bullshit reason I have ever seen as an investor for a cashflow positive company. Even more considering it isn't even disclosed to who that went despite the considerable discount and the quality claims.
Ann: Placement to a Strategic Investor, page-29
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Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $33.73M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.0¢ | 16.0¢ | $15.36K | 96K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4000 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 48188 | 1 |
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| Last trade - 10.18am 27/09/2024 (20 minute delay) ? |
| KAU (ASX) Chart |