WWI

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1.6¢ west wits mining limited

Ann: Trading Halt, page-80

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Fishfinger

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30/07/21

19:15

Post #: 54917614
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Originally posted by dunnomuch: ↑

the reason that capital raises are done for s708 investors is that there isn’t the same need for disclosure as for retail investors. I had a text message exchange with PAC and ended up in the placement. If they did that with a retail client then APRA and ASIC would castrate them. By raising funds via s708 investors, things happen quickly. Retail SPPs require a prospectus and lots of legal framework, a s708 raise doesn’t need anything as binding. So it costs less and happens faster. The company gets the funds they need at a cheap enough rate of discount without much legal recourse if it all goes wrong.

There is a general misunderstanding of who is a s708 investor on HC. The absolute bulk of s708 investors are retirees who probably are not that “sophisticated” but have been “upgraded” to that status by virtue of dealing with the private banking department of one of the big 4. If you have $2.5m investable assets OR $250k income then you qualify. So let’s say you are 65, never bought shares, worked for a govt department for 45 years, got a great super payout, downsized the family home of 30 years and ended up with $3m in assets out side of your home… you are now a Sophisticated investor. ZERO experience but SURPLUS assets… the “Sophs” that everyone has a go at on HC are mainly people’s grandparents who never sold their family home and had development happen all around them.

if you needed to start a mine in a hurry would you:
ask 100 qualified investors who have confirmed that they have the money and have no legal ramifications?
Ask 10,000 investors, after having lots of legal costs to verify that you can ask them, who maybe have some extra cash that they might be able to contribute? After they pay, you then are legally bound to what you sold to them.
Ask a bank for an amount that will almost certainly cost you more than the other 2 options and most certainly have the bank exercise some control over your plans?

Capital raises exist because they are effective and efficient.

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It's not the CR that pisses people off it's the inside trading to a select few that knew exactly when it was going to happen!!

WWI Price at posting: 6.9¢ Sentiment: Buy Disclosure: Held
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Last 1.6¢		Change 0.001(6.67%)		Mkt cap ! $40.66M

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No.	Vol.	Price($)
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Ann: Trading Halt, page-80

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

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Ann: Trading Halt, page-80

Top Stories

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Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

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Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

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Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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