They will absolutely need to raise cash soon, and management need to be smart to pick the right 5 day VWAP to raise off.
$1.6m in the bank won't go far...yes they can stretch it out another quarter maybe, but will there be the same good volume and pricing? Or will they be raising sub-10c because SP has drifted back down to 11-12c range pre-raise??
The low cash balance is scaring off new investors, who are already waiting for the CR to take a position.
I'm honestly a bit surprised they haven't halted already to put $2-3mil in the bank at around 13c
Constrained Value Estimate, page-10
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Last
19.5¢ |
Change
0.010(5.41%) |
Mkt cap ! $14.01M | |||
| Open | High | Low | Value | Volume |
| 18.0¢ | 23.5¢ | 18.0¢ | $511.3K | 2.592M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 170850 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 193800 | 3 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| SUM (ASX) Chart |