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2.5¢ axiom mining limited

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rusty02

3,572 Posts.

1823

24/03/17

09:44

Post #: 23593722
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Originally posted by Sniper88 ↑

Its a pump.........

Rights Issue The Company will undertake a 1 for 10 non-renounceable Rights Issue of ordinary shares at an issue price of $0.16 to raise a total of up to $5.6 million (before costs). The shares issue price of $0.16 is at a 13.5% discount to the latest closing price of $0.185, and a 10.6% discount to the 30 day volume weighted average price for Axiom’s shares of $0.179. Those shareholders who participate in the Rights Issue will also receive seven (7) Attaching Options for each four (4) shares subscribed. The Attaching Options will be on identical terms to the options attaching to the Placement Shares. They will have an exercise price of $0.40 with an expiry date of 14 December 2018. The Company is seeking the quotation of the Attaching Options on ASX. This Rights Issue is not underwritten, but shareholders who have fully subscribed for their Rights Issue entitlement may subscribe for any shortfall. The Company reserves the right to allot and issue any shortfall shares at its discretion. Shareholders on the register at 7pm (ADST) on 6 March 2017 will be entitled to participate in the Rights Issue. More information regarding the Rights Issue will be set out in the prospectus, to be mailed to eligible shareholders in accordance with the timetable below. The shares issued under the Rights Issue will rank equally in all respects with the Company’s existing fully paid ordinary shares. Existing option holders should note that in order to be able to participate in the Rights Issue they will need to exercise their options. Further details will be provided to option holders separately. Loyalty Bonus The Company also intends to make a Loyalty Bonus Option Issue (‘Bonus Issue’). Eligible shareholders holding 125,000 or more fully paid ordinary shares in the Company at the 7pm (ADST) 30 March 2017 will be issued one (1) free loyalty bonus option (‘LBO’) for every eight (8) ordinary shares held. Shares acquired in the Rights Issue will not be counted towards the shareholding for the 125,000 share threshold, nor qualify to receive the LBO. The terms of the LBOs will be identical to those of the Attaching Options to the Placement and Rights Issue. Options will be exercisable at $0.40 with an expiry date of 14 December 2018. The Company is seeking the quotation of the LBOs on ASX. More information regarding the Bonus Issue will be set out in the prospectus, to be mailed to eligible shareholders in accordance with the timetable below. Shareholder approval is not required for the Bonus Issue. Private Placement The Company has undertaken a private placement (‘Placement’) to raise between $1 and $2 million. To date the Placement has delivered $1.25 million, through the issue of shares to Sophisticated and Professional Investors. This Placement of 7.81 million shares at $0.16 will be supplemented by the issue of one (1) Attaching Options for every two (2) Placement shares subscribed. The 3.91 million Attaching Options will have an exercise price of $0.40 with an expiry date of 14 December 2018. The Company is seeking the quotation of the Attaching Options on ASX. The Placement shares issue price of $0.16 is at a 13.5% discount to the latest closing price of $0.185, and a 10.6% discount to the 30 day volume weighted average price for Axiom’s shares of $0.179. The Placement shares will be issued under the Company’s existing placement capacity and as such do not require prior shareholder approval. The Placement shares will rank equally in all respects with the Company’s existing fully paid ordinary shares

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Can't agree with you there.
You need to read the report where the CR is clearly discussed. This report is clearly aimed to the subscribers. No pump or any evidence to indicate that this has been orchestrated by Axiom. In fact the question was asked for an updated analysis by their subscribers on the Isabel Nickel project.
The report covers 3 sections
a) Sumitomo
b) SIG
c) Axiom.
The buy recommendation is up to 30cts.

AVQ Price at posting: 17.5¢ Sentiment: Hold Disclosure: Held
11 Upvote

0 Great analysis

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