If those details of the raising are correct - and it is taken up in full - we will be looking at an absolutely vast dilution of nearly 300m shares to around 1,100m on issue.
We have been hit with a double whammy today too as cash has also fallen over the last 2 months from $17.9m to $14.3m, so the company is still losing cash.
So unless there is some cash coming in from a recent sale of concentrate, we are looking at another losing quarter? (Someone might know more than me about whether there is cash due in from sale of concentrate?).
We are now totally looking down the barrel. Do we take up the SPP at 8.5 cents? Even if the market cap somehow finishes Monday at $80m we will only have a share price of 7.5 cents.
It is a complete and utter mess. All those millions in exec bonuses look a bit galling now. Feel like a total idiot for not selling up and getting out at 27 cents.
some numbers and questions
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