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Bayswaterguy

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01/07/18

11:25

Post #: 34064277
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Originally posted by Basileus ↑

Morning @Bayswaterguy

We could always direct your question to the QBL representative for a complete answer.

Nonetheless, here are some facts re that topic. A HC post made in March 2017.

https://hotcopper.com.au/posts/23592822/single

Maybe have a read of the "Rights Issue Results" announcement on 22 August 2016 as well.

And, respectfully, you can read the 3B's for yourself. here's one or two to get things started.

(1) A lazy 15,000,000 shares issued to "placement to strategic investors, to maintain the Company’s cash balance"
3B issued in January 2016.

(2) Followed up with another lazy 45,000,000 shares for the, "Completion of the Purchase of Plateau Bauxite EL7301 for 29 Million shares and 4M shares to employees as per approval of shareholders at recent AGM, 11,933,467 shares to consultants in lieu of fees, to maintain the Company’s cash balance"
3B issued in March 2016.

(3) And then another 42,000,000 issued for, "In lieu of repayment of USD$225,000 of the USD$500,000 investment/loan facility made last year by the NY based Magna Group."
3B issued in May 2016

So between January 2016 and May 31 2016 they issued just over 100,000,000 new shares. Using the last SP that would equate to $3,700,000

Is that good capital management do you think?

Expand

Morning to you too Bas,
Thank you for your detailed response.
Was hoping for you to answer my question which was, when did QBL last do a Capital Raising?
Would be sincerely appreciated if you could answer.

QBL Price at posting: 3.7¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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Holding back, page-25

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