Likely Davenport could not raise the minimum that they need. The prospectus says that they need to get a minimum of $5m.
Just have a look at Parkway Minerals (Potash West) has performed over the last 4 years, I would not blame investors for not touching Davenport with a 50ft pole.
I actually see it as better that Davenport projects remain in PWN. They are doing this spin-off called Davenport with PWN shareholders getting nothing except for the "right to buy Davenport IPO shares".
Wouldn't it be nice that the board of directors say take up say $AU500k each with their own money in the IPO. I am pretty sure this would send a very positive signal. Then again this would defeat the idea of "using the company coffers to draw down fees".
Likely Davenport could not raise the minimum that they need. The...
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Last
0.7¢ |
Change
-0.001(12.5%) |
Mkt cap ! $19.36M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.8¢ | 0.7¢ | $10.45K | 1.475M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 12885851 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 1673240 | 3 |
View Market Depth
| Last trade - 12.58pm 09/07/2024 (20 minute delay) ? |
| PWN (ASX) Chart |