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2.4¢ diatreme resources limited

Ann: Transformational Strategic Partnership and Placement, page-15

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Arcpro

1,942 Posts.

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27/06/22

11:38

Post #: 62223475
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Originally posted by SmilingDog: ↑

It all just feels like a slap in the face. To issue that much equity capital at that low of a valuation (for both the corporate + project levels), with construction presumably 6-9 months away.

Publish the DFS. Lock in some offtake. Secure or get close to debt financing. So many potential catalysts to de-risk the project and drive the share price way higher over the very near term. To issue 2x the actual equity capital you need at this valuation just feels insane. They pulled the trigger WAY too early on this. And going back to my point, the importance of being aligned with insiders......

Also the side issuance to Ilwella? Are you kidding me. Why do they get shares at that valuation too? There's no justification for that hand out.

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I guess it was all part of the deal. A "condition" of some sort. Fair enough I say.

DRX Price at posting: 3.2¢ Sentiment: Buy Disclosure: Held
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