From the announcement
Capital structure 2.6 bn post raising
On deal completion >4.5bn
1:10 recon 260 to 450m shares on issue
Half way to the next recon already on exploration assets in the copper gold space after two years chasing everything else.
Looks like an emergency deal to stave off suspension from the ASX due to inactivity. Hard to see anything attractive here. I suppose it will justify a trip to Cape Town on the newly raised money.
LCR Price at posting:
0.2¢ Sentiment: None Disclosure: Held
