Marmota Limited was a spin off from Monax Limited and was listed on the ASX Wednesday 21st November 2007, with 60,000,000 shares at $0.25 cents per share. Marmota listed as Marmota Energy as at that time it was heavily into Uranium exploration at Junction Dam.
Now we have a trading halt today for a Capital Raise which in a way was kind of expected. Marmota Limited has 1,086,507,937 shares on issue and a market capital of $68,450,000. Under the 10% rule we can do a capital raise of 108 million shares at say $0.054 cents but most likely get permission to do a capital raise on an additional 108 million shares. So, 216,000,00 at $0.054 is around $11,664,000.
That would give us 1,302,507,937 25 cents shares on issue after the capital raise.
With so many things in the pipeline and so much news likely in the coming months ahead this could be an enormous step forward for Marmota Limited. Sometime in the future it's possible that Marmota Limited may have a consolidation and make the $0. 25 cents share $1.00 shares. All of a sudden, we would only have 325,626,984 shares on issue and whatever the share price was at consolidation 4 times that would make Marmota looking very successful. The capital raise is one big step forward for bigger and better things to come.
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