Mate,
They raise cash because they can at this point in time, and in doing so they will strenghten their book and it is good to have a lot of cash at this moment.
Another reason is to fund their project so it looks ok in the long run but it might not be ok for the sp and as we see POG keeps going down so lgl might go down more for a while yet.
If things got worse in the future and they need cash then, they might not be able to raise it but now is better than later as you see they can raise cash NOW but might not be in the future.
Looking at DOW if it goes up POG will go down even more, if DOWN goes down POD still goes down as the funds need more cash for margin calls, one of those time where a lot of people are selling.
Things don't stay the same, POG will recover, and it looks sooner than later.
Cheers
why another placement, page-11
Add LGL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.46 |
Change
0.040(2.82%) |
Mkt cap ! $178.2M | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.46 | $1.46 | $2.411K | 1.654K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 7668 | $1.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.46 | 13445 | 1 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| LGL (ASX) Chart |