HLX has just announced an $8 Million capital raising, which is a 15% premium to the current share price.
More interestingly though, the placement has been to two big players in the resources industry.
1. AMCI: They have taken part in a number of small/mid cap businesses and their subsequent growth has been quite remarkable over the short period of involvement (In particualar the great story of FLX, GCL and WHC - which have all doubled in the last few months). The guy running it is a genius and obviosly sees the potential in this asset play.
2. First Reserve: The largest private equity firm in the minerals field. There is obviously something special and unique if this global firm is attracted to a small Australian company in a booming and growth industry. Who knows, they even may launch a takeover??? Or take up a position on the board?
The potential of this business is obvious, and this latest capital raising reinforces the confidence in management and the assets of the businesss.
I continue to buy.
capital raising at significant premium
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Mkt cap ! $9.793M | |||
| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 51527414 | 20 |
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| HLX (ASX) Chart |