At this rate there will be 200m shares on issue once all shares are issued including Lindsay's While we know money is coming - the timing is apparently the issue if the raising is set at around $6.6m to cover purchases. So 25% dilution with the cost of $2m in shares for Lindsays and 25% increase in shares on issue.
However the company changes from an asset cashing out Jeffries Find and initial mining of Munda to by all accounts with a doubling the old AURIC with a possible MUNDA 2 in Lindsay's and a MIll thrown in for 25% dilution and $2m CASH.
Auric's Munda goes from being worth $1.60 a share to $1.25 / share but with Lindsay's income and a Mill thrown in over the next 4 years to top it up.
While not happy with the issue price, such is the cost of certainty.
DYOR + DYODD
AWJ Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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