I think you can safely say that the cap raising is not for upgrading the plant...they clearly stated that they will be producing 30,000 oz p/a for the next 4 years. Correct me if I am wrong but it does not take 4 years to upgrade a plant and why would they raise capital for that now considering their SP will most definitely be alot higher after a year or two of solid production (meaning less dilution).
It has to be for completing the plant, further drilling and working capital as they only have a million left. Then you got to ask why is it in a halt if the offer is to sophisticated investors? That could have been worked out overnight. The raising must be to shareholders.
Just my thoughts
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Last
5.1¢ |
Change
0.003(6.25%) |
Mkt cap ! $26.83M |
Open | High | Low | Value | Volume |
4.8¢ | 5.1¢ | 4.8¢ | $4.21K | 83.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22000 | 4.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.2¢ | 62500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22000 | 0.042 |
1 | 75000 | 0.041 |
3 | 185000 | 0.040 |
1 | 11553 | 0.036 |
1 | 200000 | 0.035 |
Price($) | Vol. | No. |
---|---|---|
0.052 | 62500 | 1 |
0.055 | 100000 | 1 |
0.056 | 53555 | 1 |
0.059 | 104762 | 2 |
0.060 | 142713 | 2 |
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