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Ann: Proposed issue of securities - QXR, page-8

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goldinvo

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12/10/23

20:07

Post #: 70317341
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Originally posted by Ty Cat Mac: ↑

Yes, but what you haven't mentioned is that the company does not have to use the ATM & if it does, the company determines the price at which the shares are issued

The use of the ATM is not at DCI's discretion as you say, but at the company's

This is what the announcement said

Under the ATM, QX has full discretion as to whether or not to utilise the ATM, the maximum number of shares
to be issued, the minimum issue price of shares and the timing of each subscription (if any). There are no
requirements for QX to utilise the ATM and QX may terminate the ATM at any time, without cost or penalty. DCI
and the ATM do not place any restrictions at any time on QX raising capital through other methods.

So, if the exploration activities are successful (& obviously we all hope they will be - although I note Goldinvo holds no shares so it wont affect he/she/it/them) the company may be able to set the ATM SP at 10 or 15c (or whatever the SP is after successful results are announced)

In other words, the dilution may not be so bad & the company has a useful standby line of funds

Indeed if the SP increases dramatically, the company may choose to go to the market directly with a SPP or rights issue (which would benefit all SH's) & not use the ATM at all - it's the company's choice

We just have to be patient & read the announcements correctly

Expand

I am very aware of the product and read the announcement. I note you did not debate the fact that adding new shares to consume demand adds to dilution, or suppresses the price increasing to what it could be if those new shares are not in the market. I agree the company could set the price at 10 of 15c or is there anything to equally stop it being done at 2.6c. If the company is prepared to inform shareholders of a floor on the price that funds would be raised at would be useful.

QXR Price at posting: 2.7¢ Sentiment: Hold Disclosure: Not Held
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Ann: Proposed issue of securities - QXR, page-8

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Ann: Proposed issue of securities - QXR, page-8

Top Stories

BCI reaches close of funding facility for salt-first part of Mardie project

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

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Buxton projects new graphite province discovery at WA Narryer play

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