Seemed like shareholders got shafted in this last raise but the raise was done at the depth of the covid despair (can only assume due to internal concern around cash balances and market falling further) and was done to shore up the balance sheet. I imagine these were the terms the brokers offered if the company wanted cash then and there. Tricky situation for the company but somewhat understandable given the overall market anxiety at the time.
A 60 day rights issue etc would've taken too long i imagine.
Thankfully it wasnt a big raise and the share price has since recovered well.
More to the point. When is this SML coming.... Must be soon given the election in October.
NdPr price rise, page-20
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18.5¢ |
Change
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Mkt cap ! $49.28M | |||
| Open | High | Low | Value | Volume |
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