@Motors - you say that "I'm guessing they are using the share selling facility...." and "I'm guessing they are raising a $1 million..."
I am guessing that is not correct and that they are not using the LDA share facility. My reasons for this are:
The recent capital raise at 3.3 cents was over subscribed and rather than accept the funds, they scaled back and returned surplus funds. If they thought they might need additional funds, they would not have scaled back the offer.
When they previously used the facility (and the only time that they have used the facility), there was an ASX announcement advising that they were using the LDA facility to raise capital. Refer ASX announcement on 12 July 2022. I assume that ASX rules would require a similar notice if they were going to raise capital using the facility again as it would be considered a significant and price sensitive event.
The LDA does involve the sale of shares new shares which is something that you refer to. However, in order for there to be new shares, there must an ASX notice for the application of new shares (like there was last time on 19 July 2022). There has not been such notice advising of new shares, therefore it cannot be the sale of new shares.
HIO Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
