The release still mentions a capital raising for AZX, given the bump in price today I would imagine it is being pitched at 40c+ but that will be up to the brokers and mr market to decide. Given that AZX still has to come up with $3.25m contribution to the JV for the next three months within five days of completing a capital raising I would expect that we are looking at something at least of $5m to get this over the line.
The AZX stock has been trading like it has a placement in the pipeline for a few weeks now, with little bid support. My feeling is that they will move quickly to complete this so the thing can get put together, and they should be able to get it done with the gold price bounce.
Once again, well done guys for putting aside egos and getting the deal done.
The release still mentions a capital raising for AZX, given the...
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