$20 mill placement at a price higher than the market price at the time it was negotiated. Placements of that size (not insubstantial) are often at a discount.
Great vote of confidence for the company.
I'm still yet to understand why they have done it this early however. I see upside in the price, so can't see why they didnt wait for a higher price given they still have around 7 mill cash in the bank.
Hopefully they come out with more detailed reasons than the one liner in the announcement. I will probably shoot them an email.
Still, the most undervalued platinum/palladium listed company (with a decent resource - ie high platinum content) globally in my opinion.
Cdchi1
PLA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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