He said he sold at 26c, but you are right. It is probably a few longterm holders that disagree with the direction the company over the 49% deal. They may have held higher hopes that we could raise the $150mil to develop the mine ourselves, but it wouldn't have come without extreme dilution.
The banks are tight, so capital raising was probably the only other option. I would rather have 49% of the resource than 25%, which would be a best-case scenario if we needed to raise $150mil on market. The price usually drops when a cap raise is looming and then shares need to be offered at a further discount.
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Hexagon Looks Beyond The Swarm, page-24
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Last
2.3¢ |
Change
0.002(9.52%) |
Mkt cap ! $11.79M |
Open | High | Low | Value | Volume |
2.3¢ | 2.4¢ | 2.3¢ | $14.71K | 639.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 66164 | 2.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.4¢ | 50568 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.024 |
2 | 386221 | 0.023 |
2 | 147000 | 0.022 |
5 | 1217500 | 0.020 |
2 | 54368 | 0.019 |
Price($) | Vol. | No. |
---|---|---|
0.025 | 498695 | 1 |
0.026 | 289259 | 4 |
0.027 | 396549 | 3 |
0.028 | 281127 | 2 |
0.029 | 50000 | 1 |
Last trade - 15.53pm 27/11/2024 (20 minute delay) ? |
HXG (ASX) Chart |