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67.5¢ tietto minerals limited

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L-Carter

120 Posts.

30

25/03/22

12:22

Post #: 60421915
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Originally posted by Kookaburra777: ↑

A$100m two tranche placement at A$0.50 per share, with the ability to accept overs (Placement).
Petra Capital is the Sole Lead Manager and Bookrunner to the Placement.
• Funds raised will accelerate development at Abujar Gold Mine, increased exploration & working capital.

Offer Details
• A$100m two tranche placement with the ability to accept overs (A$48m tranche one).
• Offer Price: A$0.50 per share.
• Discount to last close of A$0.585/sh: 14.5%.
• Discount to 5 trading day VWAP of A$0.596/sh: 16.1%.
• Discount to 10 trading day VWAP of A$0.585/sh: 14.6%.
Financial (31 Dec 2021 – unaudited) Cash: A$52.3m, Debt: Nil*.
(* The Company may seek a debt facility to support the Abujar Gold Mine.)

My thoughts: Seems they may be aiming to increase equity contribution to capex costs and possibly decrease loan amount? Or, if they suspect (or already know about) a cost blowout, they may need both?

This comment covers a multitude of possible sins and scenarios, "Funds raised will accelerate development at Abujar Gold Mine, increased exploration & working capital."

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Has anyone thought possibility of a heap leach addition?
Anyway, sure we will find out soon enough. Will get funds ready incase entry price comes back...

TIE Price at posting: 58.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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