What a disaster,
The Australian Financial Review suggested that the capital raising intended to raise $20mil @ 27c, with the company now confirming they could only raise $6.4mil at 20c per share, with the the company now tapping shareholders for an additional $7.6mil. Which is only $14 mil. This is still not enough to reach the conditions precedent that the company reported on the 13th o April, which required US$12 mil = $15.3 mil.
It would appear WKT shareholder need to wait until the 3rd Tranche is completed to meet the Tanzania's banks conditions Precedent,
I do love how WKT's announcement is blaming the market conditions, other ASX listed graphite companies have no issues raising $15mil and $54.6mil within a standard 2 day trading halt.
Ann: Walkabout Completes First Tranche Equity Raise of A$6.4m, page-3
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9.9¢ |
Change
-0.006(5.71%) |
Mkt cap ! $66.45M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 9.9¢ | $43.69K | 430.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6910 | 9.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 344929 | 4 |
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| WKT (ASX) Chart |