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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Last
50.0¢ |
Change
0.010(2.04%) |
Mkt cap ! $247.4M |
Open | High | Low | Value | Volume |
49.5¢ | 51.0¢ | 49.0¢ | $485.6K | 974.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 15000 | 49.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.0¢ | 22143 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 15000 | 0.490 |
4 | 13990 | 0.485 |
5 | 166696 | 0.480 |
2 | 51696 | 0.475 |
2 | 31627 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.500 | 22143 | 2 |
0.505 | 144408 | 2 |
0.510 | 510116 | 1 |
0.520 | 6487 | 2 |
0.525 | 10000 | 1 |
Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
50.0¢ |
  |
Change
0.010 ( 2.52 %) |
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Open | High | Low | Volume | ||
49.5¢ | 50.5¢ | 49.0¢ | 64593 | ||
Last updated 15.59pm 21/05/2024 ? |
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