What are peoples thoughts on today's announcement. Placement above market price for future acquisitions.
Summary Announcement. Sally Malay. Raises $10 million in new equity at 67 cents
Date of Report: 12-Nov-2003
Institutional investors agree to subscribe for 14.93 million ordinary shares at $0.67 per share;
Existing shareholders will be able to participate via a Share Purchase Plan;
Funds to be used to make strategic acquisitions, accelerate exploration, undertake Copernicus studies and intermediate product feasibility study, and for working capital.
The market depth dosn't look that great, but I seem to remember it getting sold off before the last placement.
The managment seem to be hungry,
acturtle if you are around????
SMY
sally malay mining limited
