The normal path is to go into suspension after close of trade on a Wednesday so that effectively you have 4 days to get the raise done - Thur Fri Sat and Sun - and then announce Mon pre-open.
That they went into a trading halt (in my opinion) early probably reflect the fact that they saw the share price starting to crater and were worried it would lower the capital raising price.
The risk now will be that the don't have much time to get the raise done and will be (and then have to go into suspension) and also with limited negotiating time may suffer a negative gold price movement impact.
The flip side to all this is that they already have the money lined up - after all its looking like a small amount.
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Last
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Change
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Mkt cap ! $4.069M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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14 | 14998495 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.3¢ | 21997 | 1 |
View Market Depth
No. | Vol. | Price($) |
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22 | 8062787 | 0.003 |
5 | 4864166 | 0.002 |
4 | 7133333 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 967895 | 2 |
0.006 | 1791324 | 7 |
0.007 | 1582000 | 2 |
0.008 | 997545 | 1 |
0.009 | 1850000 | 1 |
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