The market cap according to HC is $45 million. The amount they are raising (just over $4million) is under 10%, and well under the usual 15% companies raise without needing shareholder approval. Therefore my conclusion is that they are raising the bare minimum to get them through to a JORC resource (Q4 2012), whereby they would hope that the share price is re-rated and therefore they can raise more at a higher price (less dilution).
My view is that this raising is a small gift to shareholders. I think it will be relatively easy to sell higher than 10c in the next few months.
I plan to get $2500 worth and sell some down in September. I probably won't keep them all (plus my current holding) as the geopolitical risk still makes me wary, plus I haven't seen much detail from the company about their road to production.
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The market cap according to HC is $45 million. The amount they...
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Open | High | Low | Value | Volume |
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Buyers (Bids)
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1 | 85938 | 0.010 |
5 | 1844041 | 0.009 |
8 | 1261952 | 0.008 |
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5 | 3549995 | 0.006 |
Price($) | Vol. | No. |
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0.011 | 582531 | 1 |
0.012 | 46389 | 2 |
0.013 | 100000 | 1 |
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