I think all shareholders should be very disappointed with the timing of the CR.
The stock was trading at much higher levels earlier in the year, and traded at these levels for an extended period of time; it's not as if Management and the Board couldn't anticipate needing capital to develop Brasil.
Shareholders get what, 1 for 5?
That's serious dilution for us @ 0.42c
Capital management is as important as any other management discipline; this is the first black mark on the Board and Management in my view.
Whilst the strategy may well be sound in the long term, shareholders won't get the benefit of the three revenue lines until mid 2024 at the earliest... that's 18 months from here.
I think the stock trades sideways for an extended period of time.
I think all shareholders should be very disappointed with the...
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Last
1.4¢ |
Change
0.001(7.69%) |
Mkt cap ! $37.83M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.4¢ | 1.2¢ | $65.21K | 4.980M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 6161296 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.4¢ | 636000 | 2 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| JRV (ASX) Chart |