fantastic news.
ADN is now fully funded and may not EVER need to do a capital raise again.
All the noise about the 16% VWAP is BS, the SP was low 5c last week, and that discount is not massive. Some LT holders have taken up the CR, and those that want to make a quick $... well its only 80m shares.... that will be churned in a week.
Less than 8 months ago ADN did a placement of $1.7 through the issue of 271,076,923 ordinary shares at an issue price of $0.0065 per share!
In 2 months time, no one will care about this CR, as the news flow will be strong. Brokers minds at ease RE cash to fund works. dont let the hysteria crew rattle you.
Onwards and upwards.... cashed up with $5m+ int he bank.... that will see us well and truly 12 months!
Ann: Placement, page-7
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Last
1.9¢ |
Change
-0.002(9.52%) |
Mkt cap ! $59.09M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.0¢ | 1.9¢ | $33.38K | 1.726M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1823487 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 1122200 | 3 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| ADN (ASX) Chart |