Just a quick revisit of my cap raising scenarios from weeks ago. Turns out i was too bullish on the issue price and looks like there'll easily be a billion shares plus on issue, post-raise.
____________________________________________________________
Previously...
Currently 797M FPOs on issue
CR possibilities:
$4M @ 0.02 = 200M new shares, for 997M shares on issue
$4M @ 0.03 = 133M new shares, for 930M shares on issue
$4M @ 0.04 = 100M new shares, for 897M shares on issue
So, even with a more than doubling of the current sp, we're looking at 100M additional FPO issued, which would be 13% dilutionary to the registry.
More relaistically, let's say a CR comes at 2c (18% above current price). This would be 26% dilutionary to the registry.
____________________________________________________________
16/04/2013
Ok. Let's say $4M @ 0.012 = 333M new shares on issue and 1.13B shares in total and 42% dilutionary to current holders, not taking into account any dca'ing if a SPP is offered.
____________________________________________________________
With respect, I can't see how this is going to be the promised land Sandybeaches hoped for, unless they hit a major elephant. Still think a reasonable pre-spud MC, closer to drilling, would be around $20M, which is now only 1.8c @ 1.13B FPO. A 30M MC would be 2.7c. If you can grab some shares for 1c and sell at 2.7c that's still a nice gain in this market imho.
Good luck to all current and future holders. Will hopefully jumping on the train soon enough.
- Forums
- ASX - By Stock
- penny stock with good potential
Just a quick revisit of my cap raising scenarios from weeks ago....
-
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CRJ (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
SPONSORED BY The Market Online