Back up to 1.8c but with very low volumes it is pretty irrelevant. Much more relevant to me is the current low volume of asks on the NZX suggesting shareholders are happy to hold with confidence there will be a strong offer uptake.
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I finally got filled in my small order in the last couple of days. Pure speculative punt, as the odds I reckon are around 50:50 this thing comes off but if it does the reward is probably minimum 5 fold could be 10 to 15 fold. A bookie normally would pay $1.80 for those odds so the payout in this case seems to far outweigh the odds.
I sit at 10-20% odds, but worth the punt - after playing HDG/NTL - its do or die time!
I am in too, just hope it all goes ahead a lift to our retirement would be a blessing.
The key to the capital raise mostly lies in the hands of the top 5 shareholders which own 30% of the company. If they stump up then there is a good chance of it succeeding. I don't remember seeing if there was any acceptable minimum? I.e if they raise 75% of their target does it still go ahead?
I really think this cap raise is arse about face. As they could have paid for a report from their mining technical consultant on feasibility with current funds and if positive then gone to the market with a much stronger foundation and possibly based off a higher SP creating less dilution.
I did not realise they have a mining technical consultant? What could this person have done outside of the information that is already known? They could not have gone into the mine so they would also be relying on past reports? Agree about success of raise is in the top 5 shareholders.
Insiders buying, got to be a good sign?
https://www.nzx.com/announcements/408052
Disc. Hold.
Done and dusted, been here since mid 80's one last throw of the dice, this time, this time, this time, thi----,-----. !
Just to add they are now looking at processing underground into a concentrate so they don't have ship out large quantities of ore to process. So this is the feasibility I refer to in regards a report from Terra Firma could have produced prior to going to the shareholders for more funds.
I think today was close for rights acceptance and payments. Hopefully they dont need to extend (not sure if they even can at this late stage), and can announce a decent pile of cash to get the rocketship off the landing pad - cashflow positive by end of year Jonu said.