To clarify, buy "nothing else" I meant it's not as though Morila and/or Goulamina has suddenly disappeared.
Yes, FFX now has more funding to continue with expanding Morila and continue with developing Goulamina, and this is a positive fundamental shift. However, this has come at the cost of an additional 117m shares being tacked onto the register. Will the extra $47m in cash deliver more than $47m in additional shareholder value? I believe it will, and I suspect that management and the instos participating in this CR believe this too, but it may take a little longer to convince the market at large.
It's this brief window where I see the potential for the SP to dip. Possible tree shake incoming?
As always, I'm happy to be proven wrong. Although some looking for another (final?) cheap top-up over the coming days or weeks may prefer otherwise.
All IMO.
FFX Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
