Sure cash will dissipate over time but on the current burn rate it's what $110K a week ? If market valued it at $22M with a bit over $1M cash prior to raise then it's just standard that they would still value it at $22M + the $10M cash. The price at $22M was also there largely because the need for capital in the near term was at the forefront.
Looking at markets last week looks like this move for financial stability was pretty well timed.
Sure cash will dissipate over time but on the current burn rate...
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Last
$1.27 |
Change
0.005(0.40%) |
Mkt cap ! $740.7M | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.29 | $1.27 | $406.0K | 319.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13987 | $1.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 1380 | 1 |
View Market Depth
| Last trade - 16.10pm 27/06/2025 (20 minute delay) ? |
| PYC (ASX) Chart |