I found it Interesting that David Wall noted that: "...with...

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Boston007

261 Posts.

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13/09/19

09:26

Post #: 40408198
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Originally posted by olderwiser: ↑

Mixed feelings on this, mismanaged is the first. If 88e had set out to raise $6.75m the perception should have been positive, as it indicated the intention to fill the coffers just enough to get Charlie 1 results in play and still have a cash buffer. In other words belief in the outcome.
Setting the target at $10m and coming up short shows low investor demand and a willingness to over dilute for a larger safety net, or if you play up the positive, potential work plan prior to Charlie 1.

The end result will be a poor perception, when it could have been positive, so poor judgement in my view.

On the other hand it does show the farmout deal as a fiscal winner. In this capital raise the new holders have 7.86% of the enlarged (6872 m)Shares on issue, and paid $6.75m for this share of the company, so $ 0.86m for 1%
Arguably Pioneer paid $34m for 12% of the companies assets, which translates to $2.83m for 1%

From there its perception, either the Pioneer deal was very good or the capital raise was poor.
Either way its done now, money is in the bank, and the dark cloud imposed by the fear of the capital raise price is gone. In my view the the farmout didn't get the good response it deserved on account of this fear.
At this point the SOPH buyers are seeing value @ 1.25c, but expect most will exit prior to results on the drill campaign. Both an opportunity and a threat.

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I found it Interesting that David Wall noted that: "...with shareholders support", which clearly indicates he does not have his finger on the pulse of 88e shareholders, or is delusional.

88E Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
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Last 0.2¢		Change -0.001(33.3%)		Mkt cap ! $57.78M

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I found it Interesting that David Wall noted that: "...with...

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I found it Interesting that David Wall noted that: "...with...

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