As promised a couple of weeks back, announcement before months end regarding sign off of Uranium project. Its a great deal, and no doubt a company maker.
On brief review, the one interesting/questionable aspect of the deal is the proposal to raise $5M through way of a "public" offer by prospectus at 30c/share, a significant discount to todays market close of 72c, and one which holders will no doubt raise their eyebrows over.
My mail tells me that the $5M in stock is already placed, so any attempts of retail investors to subscribe will be futile - disappointing to say the least. This may put some downwards pressue on the stock price post prospectus, however the potential of this deal should not be underestimated. Any downward pressue and i will be topping up my holding as from all reports upon confirmation of the project and its undoubted potential these will be $2 and beyond.
A groundbreaking day indeed!
NMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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