In the Chairman's Letter on page 3 of the Entitlement Issue Prospectus, Mr Breeze nominated, "Funds raised from the Offer will be used towards the Company's existing investments in its oil and gas projects through Advent Energy Limited (Advent) and MEC Resources Limited (MEC)..."(Ref 1).
Given that BPH raised the full amount in its recent rights issue, is it now going to invest the full $284,000 promised in the use of funds table (Section 6.1 of the Entitlement Issue Prospectus) in the current MEC raising (Ref 2)?
Ref 1 Entitlement Issue Prospectus - https://www.asx.com.au/asxpdf/20181031/pdf/43zv26g8vwdqm3.pdf
Ref 2 MEC Prospectus - https://www.asx.com.au/asxpdf/20190409/pdf/4445c4mrs995z0.pdf
Investment in MEC??
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Mkt cap ! $24.14M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.2¢ | 2.1¢ | $83.09K | 3.933M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 683856 | 2.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.2¢ | 499499 | 4 |
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| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 2.1¢ | 2.2¢ | 2.1¢ | 1327257 | ||
| Last updated 15.51pm 08/05/2024 ? | |||||
| BPH (ASX) Chart |