WHUT? Raising 25 million at current prices means roughly 100 million shares. That's a >25% dilution !!! How the heck is that PEANUTS ??? I'd rather wait half a year more - especially since it's a horrible signal to Mr Market that lots more dilution might be in the cards to get the DZP moving (shorters of the world, unite ...)...
The real problem is the freaking FEED which is ca 50 mio but part of the DZP capex. So they could argue that the CR is for the DZP, so they didn't exactly break their word - just its spirit.
In my book, it doesn't make sense - from a share holder value perspective - to go ahead with spending that kind of money on the DZP before nailing down even part of the financing nor getting the permits, esp. if it means diluting the hell out of small shareholders.
If our partners (i.e. esp Shin Etsu) were that keen on going forward now, all they had to to is loan us 50 mio for the FEED, either to be deducted from the purchase price for tjeir DZP share, or repaid from Tomingley in 2-3 years.
And if someone really wanted "in" - why not buy shares on the open market ?? Maybe because any serious buying would have send us back to 1,10 ? Yep. In other words. management is giving away presents to outsiders so they can forward with the project. That's called empire building.
Still disgusted.
P.S. You know what would be funny? The insto being Warren B and him disclosing it sending millions of his fans to alk.ax buying our shares, driving the SP to $10 ... (ok, back to reality ... did I yet mention I'm digusted ???)
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Last
54.0¢ |
Change
0.005(0.93%) |
Mkt cap ! $325.8M |
Open | High | Low | Value | Volume |
54.0¢ | 55.0¢ | 52.5¢ | $364.8K | 682.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 47380 | 53.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
54.0¢ | 51666 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 47380 | 0.530 |
4 | 52920 | 0.525 |
8 | 16887 | 0.520 |
1 | 50000 | 0.515 |
2 | 11800 | 0.510 |
Price($) | Vol. | No. |
---|---|---|
0.540 | 51666 | 1 |
0.545 | 12187 | 1 |
0.550 | 63901 | 4 |
0.560 | 424309 | 7 |
0.565 | 21238 | 2 |
Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
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