Just read the West and the deal has been done. 14 million shares at 25 cents, raising 3.5 million. Not sure but i think it will be institutional. Would love to get some more but doubt it. Not sure why it hasn't come out of the halt as this information has now been published?
I work out the number of shares on issue to be 76 million post raising. They will have 5.3 million in the bank. Assuming a sp of .25 it's market cap will be 19 million, take away the cash of 5.3 million and we are left with an EV of 13.7 million.
Amazing results yesterday and more news flow to come, if we are lucky this could quite easily be a multi bagger. Although disappointed at the price it probably does seem fair based on the volatility of the share price with this stock. OGX is now on the radar, it won't take long to put the raising behind and move onwards and upwards. Doubt it will go as low at 25 cents, may hit 27/28' thoughts?
OGX Price at posting:
28.7¢ Sentiment: LT Buy Disclosure: Held
