Lets not beat around the bush, the company needs cash. It is capped at a dismal $6.7m, and could be drilling duster after duster at Serra Misteriosa. Its a good time to do a capital raise, and in my opinion the management are minimizing dilution with this raise (compared with the other alternatives). I would have liked to see a well-known institution or two participate, instead the register will be dominated by retail investors who tend to be a bit more emotional than their sophisticated counterparts.....
This is a good deal for existing shareholders. Fully diluted at 0.5c, CTM will be capped at $13 million. Excluding options, $8.7 million. Fair value for what CTM have on their books IMO. I'm assuming Serro Misteriosa is a dud too, so if it surprises there is a lot of upside.
After buying in at an average of 0.84c, and taking up my full entitlement i will have an average buy-in price of 6.8c which i can live with. A lot of shareholders will feel forced to participate due to dilution, but that's the risk you take when investing in a micro-cap with no money and 1:1000 chance of finding an orebody.......
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Lets not beat around the bush, the company needs cash. It is...
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Last
41.5¢ |
Change
-0.005(1.19%) |
Mkt cap ! $205.4M |
Open | High | Low | Value | Volume |
41.5¢ | 42.0¢ | 40.5¢ | $163.5K | 393.1K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 19540 | 40.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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41.5¢ | 7672 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 19540 | 0.405 |
2 | 5300 | 0.400 |
3 | 3310 | 0.380 |
1 | 1316 | 0.375 |
5 | 61660 | 0.370 |
Price($) | Vol. | No. |
---|---|---|
0.415 | 7672 | 4 |
0.425 | 86859 | 2 |
0.430 | 2000 | 1 |
0.435 | 15933 | 1 |
0.440 | 137886 | 3 |
Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Last
41.0¢ |
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Change
-0.005 ( 1.20 %) |
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Open | High | Low | Volume | ||
41.5¢ | 42.0¢ | 40.5¢ | 62269 | ||
Last updated 15.59pm 30/04/2024 ? |
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