NXM

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3.9¢ nexus minerals limited

Hi PerdantI agree $0.30? could be wishful thinking. I will be...

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Cha Cha Charlie

304 Posts.

96

19/09/22

08:55

Post #: 63765413
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Originally posted by perdant: ↑

Hi all,
I’ve had a busy day and a funeral.
First thought when I got home was, what is the issue price and how many shares will be issued?
Thoughts out aloud …

@Cha Cha Charlie no way this is going to be at a premium to the current sp imo.
VWAPS:
Last week 20.1 cps
Last two weeks 20.8 cps
Last four weeks 22.2cps

So go midway 20.8cps.
Maximum discount is 25% = 5.2cps = issue price of 15.6cps (hopefully not given prospects of project but POG is not being kind atm.)

SOI = 289m
LR 7.1 = 15% = 43.35m
LR 7.1a = 10% = a further 28.9m

Maximum issue without shareholder approval = 72.25m

So, how much do they need?
Last CR was at 46cps raising $19m

We have ~$5m left so a further aggressive campaign needs another $19m @ minimum 15.6cps = new issue of 121.7m shares.

Not possible unless it goes to the AGM for shareholderapproval.

Say discount is only 10% from two-week VWAP = .021cps rounded = 18.7cps x max 72m shares = $13m = that would work for the next round of drilling.

What would be great to see, and kick the tin along, given the poor performance of POG, would be if NST took up a parcel and increased their holding … that would make sense given the proximity to their mill and @fredwah’s previous post related to divestment of projects that require transportation of dirt.

Anyway, by the time I’ve taken to calculate all of this, someone has probably posted the exact details from other sources.

At ~18cps, I’ll be topping up, even if POG isn’t playing the game!

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Hi Perdant
I agree $0.30? could be wishful thinking.
I will be disappointed if the CR is below $0.25
If so I feel Retail Investors have been
Dudded. At least we would know why the share
price has been rangebound / suppressed recently.
All it takes is a minimum of 2 Large shareholders with the same agenda.

NXM Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Hi PerdantI agree $0.30? could be wishful thinking. I will be...

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