Existing shares will be worth peanuts and anyone wanting to maintain a meaningful stake will need to take up the SPP. I'm guessing it will be open up to a cap as to how much you can subscribe for (ie. not relating to current holding size).
I note funds will be used to "discharge most of the unsecured debt of the Group". I interpret that as the secured debt will remain in place.
On the surface it seems like a very large raise if they plan to park mining and just go drilling. They're obviously reasonably confident in finding something to put up that much cash though.
Existing shares will be worth peanuts and anyone wanting to...
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Last
33.0¢ |
Change
0.020(6.45%) |
Mkt cap ! $41.52M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 34.0¢ | 31.0¢ | $120.6K | 365.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5374 | 33.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 50000 | 1 |
View Market Depth
| Last trade - 16.10pm 16/06/2025 (20 minute delay) ? |
| TNC (ASX) Chart |