Ann: Entitlement Offer Closed, page-6

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vladisimo

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22/10/18

21:39

Post #: 36216797
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Originally posted by gosouth ↑

Originally posted by mm3
It was always going to be massively undersubscribed seeing the majority of the Shareholders are actually TNG Shareholders with free TRT shares. I expected even less from the rights issue.

IMO it's all part of the plan from Hartleys to offer stock to shareholders knowing it wouldn't be taken up to then get all their clients set cheap through the shortfall.

Does the same thing as a placement without pissing existing shareholders off who all had a chance to top up.
It is a disastrous outcome for everyone.
They should sack Hartleys if it was them who gave TRT the advice to do a 1 for 2 rights. It was the wrong capital raising strategy and the amount being raised was too high for a stock that had limited interest in the market.
They will struggle to find buyers at 8c for the quantum of shares involved - they may end up having to issue them at a lower price and lower the number issued. But if it was me Hartleys would not get a second chance.

TRT should just focus on Mt Hardy and drop all other projects to the back burner to conserve cash.

Will be interesting to see the cash position in the Quarterly about to be issued.

Gosouth

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Not long at this rate before TRT will be trading insolvent and go into administration. Let’s hope they either find a massive resource or sell some assets to continue.

TRT Price at posting: 8.4¢ Sentiment: Hold Disclosure: Held
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Ann: Entitlement Offer Closed, page-6

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