They're raising $1.5m at 2.5c, I think fully underwritten - half from a placement to sophisticated investors (under the 15% limit) and half from a rights issue - so 60 million shares and about a 27% dilution.
This is as good as it could possibly be, in my opinion, given the circumstances: moderate dilution, but enough that they shouldn't (fingers crossed) need another raising before the income streams get going.
capital raising
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Mkt cap ! $112.7M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 14.5¢ | 12.8¢ | $127.2K | 932.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 1 | 9999 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 14.5¢ | 80000 | 1 |
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| Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 13.0¢ | 14.5¢ | 12.5¢ | 712453 | ||
| Last updated 15.57pm 05/06/2024 ? | |||||
| OIL (ASX) Chart |