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24.0¢ bbx minerals limited

100% ore! Avg 40g/t Au 1km x 200m to EOH all holes, OP mining 2019, page-783

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Midnight26

4,791 Posts.

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25/02/19

20:24

Post #: 37562609
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Originally posted by Nodferatu: ↑

It wasn't a SPP, it was a placement within the company 15% yearly placement capacity. There was no record date on the raise to be eligible to participate. It's highly unlikely the major shareholder at the time (Drake) only heard about the raise on the 19th Dec when it was announced. The discussions for participation in a raise could have been happening informally in November/early Dec for as far as we know, hence agreed to participate pro-rata of the situation at the time.

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So if they 'gave away' their 50% then they would have forfeited their right to participate in the CR, yet they picked up 3M shares.

BBX Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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