Fontenay.. that is probably the precise reason as to why the placement is being done BEFORE the release of any further news.
If the placement is given to SI it will obviously be offered at a lower price and may get dumped back down to around that price but then, if management were to relase significant results from Ngualla or even the TRP, then we could see the SP steady and rise back up while the company nets the cash from the placement... a positve result.
Its quite strategic to do the cap raising prior to (what im assuming) is some positive news...
pek in pre open??, page-30
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Mkt cap ! $51.95M | |||
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