There will be an issuance (announcement) tonight or tomorrow morning of a notice of meeting.
This will provide more details regarding the fund raising.
Watching this space like a hawk.
Indicies
A successful raising of this size, accompanied with a substantially upgraded resource statement, quality investors increasing their interests, and an increasing cu price provide a very fertile environment for Marengo's growth.
I don't want to get too far ahead of myself, but I envisage in the next quarter MGO will be a candidate for inclusion into the S&P ASX 200 Index.
The expanded capital value of MGO will serve to increase the exposure of Marengo and subsequently demand for its stock. Funds are required to purchase holdings consistent with the weightings applied by indicies and governed by their own rules.
Each step we take, Marengo is more and more derisked; its potential more and more real.
MGO Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
