If North American Institutional people who bought AVZ at .25 cents with attaching options exercisable at 30.5 cents thought AVZ was fair value at that time.
After 5 months of information and at 53.% percent discount or at .145 cents , should
be more than fair value? My guess.
Please see below part of the announcement last 26 February 2018.....
The Board of AVZ Minerals Limited (ASX: AVZ) is pleased to announce that it has mandated Cantor Fitzgerald Canada Corporation (“Cantor”), part of a global financial services firm, to manage a $15 million capital raising. Cantor has received a firm commitment for 100% of the placement from one of its North American institutional clients.
The placement will comprise 60 million shares at an issue price of 25 cents per share, together with 30 million attaching options exercisable at 30.5 cents, expiring 24 months from the date of issue, to raise $15 million. At settlement the investor will hold approximately 3.2% of AVZ issued shares.
