The CR is with the same mob as previous. Raising at 2.1c with one attaching option for every 2 new shares. Option strike is 3.5c and expires June 30 2028. Unfortunately I imagine GBA Capital's clients will dump what they get on market. With the attached option it means their deal is worth 1.6c/share.
@Hussy I also would have preferred them to let the dust settle and look to raise after good drilling results.....but, that's a very risky move because if the results don't come in the way the market wants, then it would be trouble trying to raise that same amount of money. But as noted in the previous post, they are drilling around previously explored areas so they should hit...but it will be a matter of how good.
I supported these guys to the hilt previously with GBA Capital and got burnt, largely due to the nickel price getting smashed. Unlikely to this time because coming out of a consol and going straight into a cap raise at a lower price means there is a very high chance this drops to 2.1c or lower. I really hope I am wrong with this and if I knew enough about this game I wouldn't have gone in so hard the last raise which is a blight on my whole portfolio!
Fingers tightly crossed for this drill program.
Add to My Watchlist
What is My Watchlist?
