So they have an additional $25mio of cash that in theory could go towards growing the loan book, in the form of capital to support their financing vehicles. They've already drawn $10mio of that, and it is unclear what for... Fees to advisor (likely $1mio), legal cost ($500K ish). Then what, given they had $21mio of unrestricted cash...? Are they sailing too close to some financial covenants? It's a little odd. Not sure we will ever know. There is still $15mio left, which would in theory support about $400mio loan growth. So next update will be critical now that they've indicate they can and are willing to grow. As I write the SP is back down, so I guess many are still doubting this shop can recover. I tend to think the valuation is attractive and have a small long.
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So they have an additional $25mio of cash that in theory could...
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Last
3.1¢ |
Change
-0.001(3.13%) |
Mkt cap ! $42.56M |
Open | High | Low | Value | Volume |
3.4¢ | 3.4¢ | 3.0¢ | $41.63K | 1.311M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 484710 | 3.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.1¢ | 354899 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 484710 | 0.030 |
5 | 772474 | 0.029 |
5 | 2115019 | 0.028 |
1 | 100000 | 0.027 |
2 | 200307 | 0.026 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 354899 | 1 |
0.033 | 236977 | 1 |
0.034 | 267613 | 2 |
0.035 | 684639 | 5 |
0.036 | 345386 | 2 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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WZR (ASX) Chart |