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3.23%

15.0¢ canyon resources limited

Ann: $5 Million Institutional Placement, page-9

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aquadog

1,946 Posts.

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21/08/18

14:14

Post #: 35065067
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Originally posted by backinblack ↑

I applauded CAY for getting Minim Martap across the line. A massive coup for all shareholders. But I have to say the optics on this Cap Raise don't look great. First, a clumsy trading halt Friday that looked rushed on the face of it. Maybe to stop the SP running away. Now this on the face of it generous issue of Shares and Options to BW. Today's announcement refers to the 15 and 30 days VWSP instead of the more typical 5 and 20, IMO to avoid highlighting the discount. Of course, it was heavily oversubscribed! who wouldn't want shares at 15.5c or a 36% discount to Thursday's close which looked likely to go higher on Friday? Nothing comes free in this worlds and this discount is funded by a reduction of existing shareholders equity in the project. I do hope BW feel somewhat embarrassed by our boards level of generosity here and work extra hard to help develop this project to benefit us all.

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Its a maggot of a raise which will serve it up to holders when it opens slimey management pure and simple

CAY Price at posting: 24.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 15.0¢		Change -0.005(3.23%)		Mkt cap ! $127.2M

Open	High	Low	Value	Volume
16.0¢	16.0¢	15.0¢	$32.16K	212.5K

Buyers (Bids)

No.	Vol.	Price($)
5	233772	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.5¢	68474	5

View Market Depth

No.	Vol.	Price($)
8	4366729	0.080
3	5025316	0.079
3	3750000	0.076
2	45000	0.070
1	40000	0.067

Price($)	Vol.	No.
0.083	150000	2
0.084	345680	4
0.085	364900	4
0.086	430000	2
0.087	230000	1

Last trade - 14.54pm 06/11/2024 (20 minute delay)

CAY (ASX) Chart