Interesting announcement.
The Company is sitting on 212,959,141 shortfall shares unissued from the recent CR.
These can be issued by the Board within 3 months from the 8/6/2023 at a MINIMUM of 0.03c.
With the recent increase in the share price these shares need to be issued at a higher price or part issued at a deemed higher price for the new Roebourne tenement the subject of todays announcement.
They could also be cancelled or used for the At The Market (ATM) facility which still requires shareholders approval.
I will be watching very carefully to make sure they are not issued at ‘mates rates’ or the integrity of the Board will be severely diminished IMO.
Jim.
Interesting announcement. The Company is sitting on 212,959,141...
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