No, $2 million is what was necessary. $3 million would suffice without having an underwriter, $10 million is comfortable & above requirements.
Remember it is expected AEM, Eagle etc are expected to be cash flow positive & raising additional funds beyond what is required increases the number of shares on issue which is not ideal.
Ann: Trading Halt, page-92
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Last
48.5¢ |
Change
-0.020(3.96%) |
Mkt cap ! $69.36M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 48.5¢ | 48.5¢ | $3.63K | 7.484K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 17477 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 4350 | 1 |
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| Last trade - 10.23am 10/07/2024 (20 minute delay) ? |
| SMN (ASX) Chart |