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
34.0¢ |
Change
-0.040(10.5%) |
Mkt cap ! $20.60M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 38.0¢ | 31.0¢ | $3.427M | 9.933M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33829 | 33.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 15793 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| SUM (ASX) Chart |