I think the capital raising will be directed at institutional investors if it happens which I strongly believe it will.
How do you think this will affect or benefit the company?
Positives:
- I see the obvious, bringing in more money to help build more rigs and pay salaries. - A big investor or 2 will also help secure the company, reduce the chance of takeover and move it towards blue chip status. - Increase exposure.
Negatives:
- The shareprice will go down, hopefully only short term. - It will raise the market cap, baised on more shares rather than the share price going up. Bummer for us. - The money needs to be used positively and not wasted.
Warren will reduce his ownership percentage in the company. More a statement than Positive or Negative.
CKK Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held