1c raise to sophisticated investors. No retail. But in the current horrible economic environment I doubt many retail would be getting involved anyway.
The positive is that these funds very likely get us to finance and construction approval stage. They also likely get us to what will be a change in government in WA this time next year going by the polls.
The negative is that U spot prices are on a roll and we would have got some decent action in the share price on the back of the positive Uranium sentiment. Could have easily raised 1.6c plus imo. As usual managements timing is way off! Or were they pushed by this group of investors to get it done prior to the run up with the share price?!
Either way, hopefully we are let off the leash now and can get a decent rise.
Ann: Successful A$4.5 Million Placement, page-2
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