I would have thought 20% to 30% year on year dilution to be an acceptable level to get them to the point of cashflow/payback from Montepuez. I really don't think they properly considered market sentiment in relation to the 31 July options when that idea was conceived. I think bad advice from whoever it was that came up with it.
By my calculations ironically the 31 July options would only add 43% dilution for the $33.4M they would raise. The solution that we got to with RCF and the cap raise with SPP 124% dilution. The 31 July options getting in the money to me would have been a much better outcome, unfortunately market sentiment didn't get us there.
As for recovery? They are chasing a funding solution with "improved terms for the benefit of shareholders" but I don't think that will necessarily mean less dilution. If they can come up with a solution that digs us out of this mess by getting us to a position of mine completion and cashflow then I will be happy with that.
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31.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $58.53M |
Open | High | Low | Value | Volume |
30.5¢ | 31.5¢ | 30.0¢ | $178.1K | 582.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2 | 31.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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31.5¢ | 2580 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 2 | 0.310 |
1 | 10000 | 0.305 |
1 | 19221 | 0.300 |
1 | 3220 | 0.295 |
2 | 83450 | 0.290 |
Price($) | Vol. | No. |
---|---|---|
0.315 | 2580 | 1 |
0.320 | 111666 | 3 |
0.325 | 27000 | 2 |
0.330 | 3174 | 1 |
0.335 | 25000 | 1 |
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