I am happy with that as a renounceable rights issue been done to respect current holders equity. I did not expect that for a small fund raising - thought they would keep it simple with just a placement. Well done TTR.
The rights will be tradeable for a period of time and given a conversion price of 5 cents to take up the shares would be expected to trade around 3 cents. The Scoping Study will be very positive and when released (and I suggest it will be just after the formal funding announcement is made) will see the current share price and the rights trade significantly higher. I am sticking to an up-side estimate of 15 cents after the Scoping Study is released.
TTR Price at posting:
7.8¢ Sentiment: LT Buy Disclosure: Held
