So what are people's thoughts on this move? Is Archer just being opportunistic, capitalising on the recent share price gains, or did they intend to raise capital before this? They appear to want 3m - I wonder how this figure was derived? What overall effect do we think this will have to the SP?
In their statement, they go some some length to justify the price based on previous raises etc. Seems a little bit thin in my reading of the rationale. I mean yeah, raise money while things are going good, but I wonder if this will send a signal to potential investors about possible upwards moves in the near term? I guess if it's over subscribed at 60c, then that would be a potentially positive signal, but I'm not sure at this point.
Anyway, thought I'd kick the discussion off!
AXE Price at posting:
68.5¢ Sentiment: Hold Disclosure: Held
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