There will be a capital raising. Money is needed for continuation of drilling. I would suggest it will be around 15%, therefore no need for shareholder approval. This will raise around the $3mill mark. They are proving up a very significant mineral resource where most, bar BHP have ignored. This could well be the next globally significant resource location, with all followers tripping over themselves to get a piece of the action. We are there now!
I believe that the selling pressure will stop, as no major shareholders (50%+) of the company are selling, only short term traders. I believe that the cap-raising will be to a significant investor, not a share placement.
Only my opinion, your discussion of these points or other thoughts would be appreciated.
Note: after doing more research i have become a longer term investor.
Wayne.
There will be a capital raising. Money is needed for...
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Last
0.5¢ |
Change
-0.001(16.7%) |
Mkt cap ! $4.626M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.6¢ | 0.5¢ | $103.8K | 18.08M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 7848999 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 600000 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| RDS (ASX) Chart |