very poor research on my part, hadn't noticed the first raising in Oct of $18m now another $16m all within 6 months and both at 45p. That's some sales job!
Also 47m new shares which is about a 25% dilution pre October.
So I can see how long term holders would feel a bit miffed.
Watched a couple of Barry Cahill YouTube interviews. Norseman Gold is obviously a pretty happy place - except for the share price, that is :)
First got on my radar mid last year in a report I came across from Sprott Assett who likened it to sliced bread.
Something like 40% of shares are held by Sprott and UK Funds and 5% by JD Slater and Family.
They appear to have picked up another 3m shares in the last raising (while Sprott diluted) and maybe some more this time? So there appears to be a pretty solid investor base.
As you say, pity about the dilution for the hoy polloi.
Thanks for your thoughts. Be interested in any others.
NGX Price at posting:
74.0¢ Sentiment: Hold Disclosure: Held
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