"Secured commitments for A$2 million private placement at A$0.05 per CDI/share following a 3 for 1 share consolidation."
So the share price is 2.5c. And there is a consolidation of all our shares to the tune of ending up with 1 for every 3 we now own. That would mean the current price equivalent would be 7.5c. But the placement is at only 5c.
I can't see how shareholders are the winners out of this price.
Ann: Presentation Kalahari Basin Botswana, page-4
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