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What about the cash from EH for the underwritten options?

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Sk1nman

4,833 Posts.

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19/03/24

23:16

Post #: 72969458
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Originally posted by Haplo: ↑

At the end of Dec 30 2023 TOR $2,829M cash on hand. They completed 1 round of drilling at Dawn this quater which was approximately (rounded up let's say) $1.7 including other outgoings leaving around $1M cash on hand.

With the share price kept below 20c (likely purposely) resulting in no options being exercised -thus the requirement for another CR. The worst case for explorers is when they have much less than $1M cash on hand as it creates a negotiation on weakness situation.

Still, $2M raised is only going to allow for another drilling campaign at either the gold or lithium project unless newsflow happens that will allow the exercise of options. The small amount raised appears to be for strategic investors to allow us to continue as we are until further newsflow.

My impression is that if no material newsflow is expected then they would have raised a greater amount to continue drilling until the end of Q4.

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What about the cash from EH for the underwritten options?

TOR Price at posting: 15.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 13.5¢		Change 0.015(12.5%)		Mkt cap ! $24.75M

Open	High	Low	Value	Volume
12.5¢	13.5¢	12.5¢	$56.40K	440.5K

Buyers (Bids)

No.	Vol.	Price($)
2	250000	12.5¢

Sellers (Offers)

Price($)	Vol.	No.
13.5¢	33803	3

View Market Depth

No.	Vol.	Price($)
2	250000	0.125
4	202803	0.120
5	96972	0.115
4	195470	0.110
2	42800	0.105

Price($)	Vol.	No.
0.135	33803	3
0.140	9666	1
0.155	50000	1
0.170	23333	1
0.180	67682	2

Last trade - 16.10pm 09/07/2024 (20 minute delay)

TOR (ASX) Chart