Well, here we are adrift in the Rights Issue doldrums. By now, at any rate, everyone should have their Entitlement & Acceptance Forms, so not long to go now 'til we're under way again.
Guess that's what makes a rights issue something of a double-edged sword. On the one hand, it IS democratic - everyone gets to sup at the table equally.
On the other hand, there's a good deal of waiting around while everyone scrapes their pennies together. And shortfall can be a bit of an unknown. With the right sort of professional investor, this could have been home & hosed weeks ago, the money in the bank and all the shares placed to 'safe' hands.
Still, nicely democratic, as I say...and on the basis of the past week's trading - & Friday's close in particular - you'd have to think smaller investors are being given plenty of opportunity to find cash for their Rights, if they need it.
So not much of a shortfall, I wouldn't think.
After that, it should be all "Onwards & upwards!" as the Company reveals plans for its various field campaigns and begins to put money in the ground.
And what an embarrassment of riches it has to explore:
- A huge acreage of Doolgunna ground; - The Pine Creek Gold & Uranium project; - Forrestania nickel ground (already JV'd with WSA); - Ularring Uranium; and - Kimberley Uranium & Gold project.
Exciting times ahead in my view.
GTE Price at posting:
16.7¢ Sentiment: Buy Disclosure: Held
