Bronze11.
This seemed to take you by surprise. I'm sure you said that you had spy's in place and you did say that the next Raising would be at a higher price. (about 1.4c at the time of this comment from memory)
Doesn't seem like anything at all has changed.
19 May
Short Term Financing Arrangements To fund well completion and additional testing and production work, the Company has secured a $2m debt facility from sophisticated investors. Key terms of the facility are 10% interest rate, $2.4m repayable on or before 30 April 2015 at any time and 66m unlisted options ($0.015, 3 year expiry). On the Company completing a successful debt or equity raising exceeding $5,000,000, all outstanding amounts drawn under this facility will be repaid as a priority or the lenders may convert their loan amounts on the same terms as the next completed equity raise.
As part of the Company’s debt facility announced on 19 May 2014, the Company has issued the lenders 30,000,000 fully paid ordinary shares to be offset against amounts outstanding under the debt facility. 75% 15 day VWAP at 14 August is 0.0064 ($192,000) Deemed issue price at 14 August at 0.008. (Because of fees?)
Some one asked what the next C/R would be at. You might just have got your answer.
So this 15 Vwap started on the 23/7 (.01c) and finished at 14/8 (.008c) including 15.9m sell down to .007c on the last day of the Vwap. Vwap to get .0064 is about .00855c
So now you know why the sell down.
They are getting issued a cheaper and cheaper rate.
107 days since TD and haven't ever finished testing one zone.
Well on the up side. They can only issue another 105m under 7.1 and 7.1a. before an AGM rest. So that's a positive.
Shares issued in the last 12 months. 662,278,448
Does everyone feel better that Cap'en cap is going to "sort it out" ROFL!
I'm sure there will be lots of positive feed back from unofficial sources very soon.
Yoo ho ho and a bottle of Rum!
CTR Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
(20min delay)