People here often counter with the argument that you need money to make money as a justification for the capital raises. It's a weak argument because it all depends on price.
By way of example, here's how CVN has raised money over the years:
- 20 November 2013 $12m at 6.4c
- 11 May 2018 $20m at 13c
- 14 Feb 2019 $50m at 33c
- 25 July 2019 - $79m at 39c
They raise more money at higher and higher prices. CVN's market cap is double FAR with a fraction of shares on issue.
Shareholders stymied, page-20
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Last
52.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $48.05M | |||
| Open | High | Low | Value | Volume |
| 52.0¢ | 52.0¢ | 52.0¢ | $1.562K | 3.004K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17440 | 51.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 54.0¢ | 22471 | 1 |
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| Last trade - 15.41pm 09/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |