Until we know the price very difficult to know how it will play out but i think it is a positive for the following reasons:
1. Company is cashed up
2. Removes the reason the stock has been shorted. ie they need cash
3. Buys them time to complete farm out deals on their terms
Trading will be messy until the issue is put to bed though
non renounceable rights issue, page-12
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Last
$1.74 |
Change
0.008(0.43%) |
Mkt cap ! $1.394B | |||
| Open | High | Low | Value | Volume |
| $1.76 | $1.78 | $1.73 | $3.247M | 1.848M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 65119 | $1.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.75 | 13962 | 13 |
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| Last trade - 11.52am 08/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |