The group was seeking to raise $18.5 million in a placement of new shares and another $13.6 million in a one-for-eight non-renounceable entitlement offer.
Both the placement and rights issue were at 26.5¢ a share which was a 14.5 per cent discount to the last close.
Why is it that Explorers don't value existing shareholders?
1:8 is a bit lean.
I've worked for a Stockbroking Firm and about 20 years ago I spoke to chief geologist / ceo about putting a glossery of terms in their announcements so that the average person would feel comfortable with what they were reading before putting money into this particular explorer.
This particular geologist liked fancy geological words.
To my surprise he said: "Glossary of Terms, What For"?.
Sometimes they really do belong on another planet.
MI
The group was seeking to raise $18.5 million in a placement of...
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Last
12.5¢ |
Change
-0.010(7.41%) |
Mkt cap ! $72.63M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.0¢ | 12.5¢ | $98.61K | 782.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 21762 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 15999 | 1 |
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| Last trade - 15.21pm 28/06/2024 (20 minute delay) ? |
| PEX (ASX) Chart |