Although the situation and industry is of course different, the ability of Gindalbie to make a placement with AnSteel at around a 105% premium to their current share price gives me a bit of hope.
A similar premium for ALB would see a placement at the 50 or 51c mark. I still think the company is worth more than 50c but I'd be pretty happy with that, given the current global situation. In fact, I'd probably be happy with anything above 25c. If it is Jinchuan, I like the chances of a placement between 25c and 50c.
capital raising, page-7
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