On 31 May ML announced a capital raising of $18mill was being finalised, at that time the share price was 11 cents so now 6 weeks later the share is averaging 8.5c. Given that there has not been any further update are we to assume they had agreed on a price of around 9.5cents? would you be paying 9.5cents when the share is around 8.5cents? I know I certainly wouldn't be risking my $18mill. I guess all will be revealed in the next quarterly due in 15 days or a subsequent announcement from the company saying how pleased they are to advise they have raised the $18mill, oh and by the way it was at 6c/share!!
These guys have thick skins but surely they aren't that thick, hmmm
My thoughts only. DYOR
PS. ML not responding to emails with pointed questions, but I guess it is his family company and shareholders are only there to tap when his bank balance starts getting low.
CTO Price at posting:
8.6¢ Sentiment: None Disclosure: Held
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