Economics 101. You add $2.4million (80 million) of new shares to the sell side at 3c. Volume has been about $5,000 per day the last few months. If there are only $5,000 of buyers per day at 5c~, of course the share price will have to be discounted to attract $2.4 million of buyers.
If they don't get the $2.4 million they can't drill this good prospect.
Ann: ORN to Raise up to $2.4m in Underwritten Entitlements Issue, page-12
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Last
1.7¢ |
Change
0.001(6.25%) |
Mkt cap ! $109.3M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.7¢ | 1.6¢ | $4.775K | 297.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 311565 | 1.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 1701787 | 6 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| ORN (ASX) Chart |