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
They will absolutely need to raise cash soon, and management...
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Last
17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.67M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.0¢ | $16.15K | 96.55K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6272 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.0¢ | 19997 | 1 |
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| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| SUM (ASX) Chart |