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10.0%

0.9¢ andromeda metals limited

Maybe reread the announcement and then correct your post

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SignOfTheTimes

2,013 Posts.

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26/08/24

17:15

Post #: 75379577
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Originally posted by szopen: ↑

My opinion on the competence of the ADN management or rather lack of competence has been demonstrated again today.

Before this CR there were 3,110,270,932 shares on issue.
They were allowed to issue up to 15% of new shares, which is 466,504,639 new shares.

In the CR to sophs they have issued 283,333,344 shares at 1.2 cents raising close to $3.4 million.

That leaves only 183,207,295 shares available for placement to existing shareholders at 1.2 cents which if is taken in full will raise just under $2.2 million.

Not $3.1 million stated in the announcement. I would say that today’s announcement would fall into misleading category or demonstrate total lack of understanding of ASX rules.

It’s unlikely that shareholders will stump up the money at above current price so they will do another CR for the remaining available shares to sophisticated investors as per announcement.
At what premium to current price?

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Maybe reread the announcement and then correct your post

ADN Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last 0.9¢		Change -0.001(10.0%)		Mkt cap ! $27.99M

Open	High	Low	Value	Volume
1.0¢	1.1¢	0.9¢	$564.0K	60.56M

Buyers (Bids)

No.	Vol.	Price($)
12	3996555	0.9¢

Sellers (Offers)

Price($)	Vol.	No.
1.0¢	25407916	18

View Market Depth

No.	Vol.	Price($)
12	3996555	0.009
48	19249920	0.008
14	8982570	0.007
8	6915000	0.006
6	7100000	0.005

Price($)	Vol.	No.
0.010	25407916	18
0.011	23506714	19
0.012	28197099	15
0.013	2841801	11
0.014	2114645	5

Last trade - 16.10pm 26/08/2024 (20 minute delay)

ADN (ASX) Chart