I still cannot find a logical reason FGR would enter into a deal like this? Especially when the deal was done at a time where money was relatively easy to get. This is a massive strike against the CEO in my opinion.
If I were holding right now I would not be thinking the company has $8m in reserves as stated in the last report, I would be betting on only having around $2m, which could indicate a raise a lot sooner than most would have anticipated, based on the fact it would be suicidal for the company to issue shares way bellow the floor price. (This scenario is based on the share price staying low. And the 20 day moving average following)
Thoughts anyone?
I still cannot find a logical reason FGR would enter into a deal...
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Last
5.6¢ |
Change
-0.005(8.20%) |
Mkt cap ! $36.91M | |||
| Open | High | Low | Value | Volume |
| 6.1¢ | 6.1¢ | 5.6¢ | $8.955K | 153.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 84999 | 5.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.9¢ | 78451 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
5.9¢ |
Change
-0.005 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 6.0¢ | 6.0¢ | 5.7¢ | 93280 | ||
| Last updated 15.53pm 03/05/2024 ? | |||||
| FGR (ASX) Chart |