Placement was needed to continue to operate until DFS. The discount sucks, but :
- The brokers clients hardly sell their shares in big chunks, if they sell at all.
- Shares issued in the UK, so no share number increase here.
- Some will sell as they automatically hit the sell button when they read CR. But that gives us an even lower price to top up. 2c as top up price, bring it on.
- We can argue about the " mates rates ", but the relationship with Simple Investments has some advantages such as:
- fast access to money as SI knows THR, especially when others won't lend at all,
- a believer in / supporter of THR and therefore no " CR-Shark " sell-off after placement like Patterson in OZ does,
- "raise as you go" placements means an adjustment to the actual sp, so a sp increase will see a placement price increase as well
Summary : Not that bad as it looks at the first sight, Tungsten price back above $ 400 ( Bloomberg ), DFS in 4-6 weeks and whatever Europe does, the amount of available Tungsten on the market is likely to decrease as new projects take time to get into production while the demand is not slowing / increasing.
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