There are a few problems with that:
1) If you actually read Advent's "Offer information statement entitlement issue" which was released by the ASX before being removed shortly after, it said "For a non-renounceable entitlement issue of two (2) shares for every three (3) shares held by shareholders registered at the record date at an issue price of $0.05 (5 cents) per share to raise up to $6,525,108..." Is Bounty a shareholder of Advent? If not, then they cannot participate in the Offer Information Statement Entitlement Issue.
2) It is unlikely Advent would raise to BUY, if you read David Breeze's statements, he seems to think the funding will be raised at subsequently higher prices. There was no mention of BUY taking more ownership.
3) BUY is already required to pay 15% of the exploration costs, (and according to the reports, they don't have 15% of a bare minimum $20million well).
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Open | High | Low | Value | Volume |
0.4¢ | 0.5¢ | 0.4¢ | $2.1K | 464.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 4503451 | 0.4¢ |
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Price($) | Vol. | No. |
---|---|---|
0.5¢ | 8521534 | 12 |
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10 | 4003451 | 0.004 |
23 | 14286816 | 0.003 |
11 | 11463444 | 0.002 |
5 | 7400000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 8521534 | 12 |
0.006 | 3462029 | 8 |
0.007 | 1467001 | 4 |
0.008 | 1500000 | 2 |
0.009 | 1293820 | 5 |
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