Pump or not, fact remains WCN will need to raise capital soon. Based on Q3 rate of spend (& $840k cash) they will need capital between now and the end of April, I'd suggest sooner is more likely than later. They would be silly to waste the opportunity of increased interest given today's results & share price rise.
Ideally they would sell one of the non core tenements instead of issuing more shares, but time is not on their side.
I sold out today at 2.3c after buying mid last year at 1c. May buy back in once they have funding.
Share price could keep running in the meantime though, market cap is low.
new copper-gold discovery, page-48
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Last
1.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $32.13M | |||
| Open | High | Low | Value | Volume |
| 1.8¢ | 1.8¢ | 1.7¢ | $75.12K | 4.367M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 1.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.8¢ | 1379577 | 4 |
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| Last trade - 15.53pm 15/11/2024 (20 minute delay) ? |
| WCN (ASX) Chart |