Had a few stocks on Trading halts, where HotCopper users who are...

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meisake365

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12/04/24

17:32

Post #: 73320774
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Originally posted by Lurker99: ↑

Where has the figure 10 million @ 3.6c come from?

I've seen it mentioned by 2 separate posters so far.

The 11 million $ royalty funding was done in November 2023 and now a CR out of the blue as the copper price has been steadily running up.

They have said drill results will be released once complete as opposed to drip feeding the market, so I'm not sure if I buy the 'get a CR out of the way before releasing poor results' line, but equally its classic speccie behavior to do just that.

Someone flagged the previous quarterly mentioning that there were only 1.5 quarters of funds left and that the company expected the same cash outflow to continue, so there's that to consider as well.

I also recall Mike mentioning how aware they are of dilution and how the plan was to minimize that.

Bearing in mind that unless one of the posters who claimed the 10 million @ 3.6c can verify that we actually have no information on the CR. According to their website they haven't releases any details of the raise yet. Happy to be proven wrong though.

But this does feel a bit suss...

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Had a few stocks on Trading halts, where HotCopper users who are high net individuals qualified as Sophisticated Investors, have informed us what it is about.
They were given the term sheet for the Capital Raise and asked to participate.
Not saying that is the case here but wouldn't be surprised.

NWC Price at posting: 4.4¢ Sentiment: Hold Disclosure: Held
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