At this point, equity is basically closed off as a project financing pathway
Assuming a raise occured at the 10c mark (being generous) they could only pull in several million dollars for the next 12m, which is enough to pay admin and exec salaries, but not much else.
The company could potentially seek permission from shareholder to raise about the 20-25% cap, but it would need to issue many multiples of current SOI< and that would annihilate existing shareholders, so doubtful they would have the balls to try that
Not much Simon can do at this point, other than to slow activity to a crawl and hope for a miacle (NAIF funding announcement or silver going parabolic), and this is exactly what he's doing (withdrawing guidance and pushing out milestones by years etc).
Having said that, Simon is definately the person most responsible for the current mess the company finds itself in. In particular, he has failed to build a quality register or articulate a compelling investment narrative (or any narrative really) to the market. I think they should find someone better
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Last
11.5¢ |
Change
0.005(4.55%) |
Mkt cap ! $23.07M |
Open | High | Low | Value | Volume |
11.5¢ | 11.5¢ | 11.0¢ | $100.6K | 910.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 16000 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.5¢ | 292999 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 16000 | 0.110 |
13 | 351104 | 0.105 |
12 | 813738 | 0.100 |
1 | 100000 | 0.099 |
2 | 35000 | 0.098 |
Price($) | Vol. | No. |
---|---|---|
0.115 | 292999 | 3 |
0.120 | 189318 | 2 |
0.125 | 334231 | 3 |
0.145 | 5020 | 1 |
0.150 | 24000 | 1 |
Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
10.5¢ |
  |
Change
0.005 ( 8.70 %) |
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Open | High | Low | Volume | ||
11.0¢ | 11.5¢ | 10.5¢ | 272933 | ||
Last updated 15.41pm 17/05/2024 ? |
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