Bravo to the Board of FEG! They have done a fantastic deal, assuring them the maximum opportunity to prove their Indonesian assets, and in the process, they have put existing shareholders first. First, there was a placement at 13.6 cts to wholesale investors, and second, there was an SPP for retail at the same price. They gave many presentations in the process, so there is no excuse if you are not on board. Then, they sold 19.99% of FEG to the strategic investor at a 47% premium to those deals. If anybody wants to avoid dilution, you can trade at 18 cents, a 10% discount on the proposed placement price. Also, it could provide Xingye with good diversification. Most Australian-based small caps in the mining space would have done this deal in the reverse order, so Bravo FEG!
FEG Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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