It’s not likely at 45c… it is at 45c. It’s all been announced previously. Extract: ‘Additionally, final binding Agreements for the $6.6 million strategic placement to an entity controlledby Eduardo Elsztain, have been completed with the placement expected to settle on 2 January 2025.The placement will be completed at a price of 4.5 cents per share2 as previously announced. Theplacement proceeds will be used to fund the US$2m upfront access payment under the Toll ProcessingAgreement, the costs associated with preparation for Toll Milling, and general working capitalpurposes.’
The bad part with the placement are the attached warrants.
The trading halt is just about finalisation of the conditions of the agreement previously announced. From memory we haven’t seen the conditions that were placed on the agreement, probably something to do with Austral being able to finance the refurb, stuff like that.
I really don’t like the warrants issued as part of that placement. But I guess it will be full steam ahead from here.
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