I think this is a good deal. As the report mentions, it allows AUN flexibility to increase drilling and preserve cash. For example, if AUN spent $2m on drilling via Topdrill, then AUN could elect to Pay $1m and issue $1m of shares to Topdrill (up to $1m max). It just gives us flexibility to retain more cash, if it makes sense to so soat the time.
By my calculations, we should have somewhere between $3.5m - $4.0 m on cash at the moment, after paying out the Convertible Note. It is a huge turn around, from when we were strangled by debt, with no easy way out. That's what was holding us back. That is behind us now.
IMHO and DYOR
I think this is a good deal. As the report mentions, it allows...
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Last
3.8¢ |
Change
0.004(11.8%) |
Mkt cap ! $16.78M | |||
| Open | High | Low | Value | Volume |
| 3.5¢ | 3.8¢ | 3.5¢ | $20.64K | 557.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 52840 | 3.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.4¢ | 11072 | 1 |
View Market Depth
| Last trade - 14.14pm 07/05/2024 (20 minute delay) ? |
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Last
3.7¢ |
Change
0.004 ( 3.93 %) |
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| Open | High | Low | Volume | ||
| 3.7¢ | 3.7¢ | 3.7¢ | 3800 | ||
| Last updated 12.40pm 07/05/2024 ? | |||||
| AUN (ASX) Chart |