There is another 300million AKK and 150million AKKOA to be issued to the "sophisticated" in about 3 weeks... after the AGM is passed for 2.9c.
Bet you that the other announcements (Taylor Sands) will be another chance for these SI to get out.
With this placement one thing I have noticed is that you can apply for double. Example if you have $58k (2million AKK) you can apply for $116k worth (4million AKK). This is all possible since its 50:50 issuance.
Essentially you have a month to dump the first 2million (and an announcement like today is going to help) and re-use the money to pick up another tranche. Bet you many investors are doing this. After all you can still keep the options if the share price comes good. Essentially a $20m raising is more like a $10m raising if you play the recycling game.
Its disgraceful that existing shareholders do not get the options in the SPP.
Going to sell some of the AKK for a trade myself. Its nice that the shares seem to be on the up. Going to be interesting what the share price going to be on the 14th April when all the shares after the AGM is issued.
AKK Price at posting:
3.4¢ Sentiment: None Disclosure: Not Held
