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0.7¢ auris minerals limited

Shady, If its a placement to Pattoes or some other ilk then its...

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7,373 Posts.

51

22/08/17

11:26

Post #: 26657166
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Originally posted by Shady Merv ↑

There was $3.224m in cash etc as at 30/6.

The Sep Q budget spend was $1m, with $0.75m spend on exploration.

So, allowing for extras, that should leave about $2m in cash etc as at 30/9. That should be enough to carry on until say Feb next year.

So, why raise now from a timing perspective?

Also, why raise now when the SP sits below the AUROA price of 8c?

It's something of a conundrum, but one thing is for sure, if it's to be a placement, then it's going to need shareholder approval because of the paucity of capacity to issue new shares under Rules 7.1 and 7.1A.

I can't see a Share Purchase Plan or a Rights Issue happening, given the situation with AUROA and the current and future money situation.

It has to be a placement, and one that has real substance to provide sustainability for the company.

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Shady, If its a placement to Pattoes or some other ilk then its either ( A ) its at a discount
which means the OA's are dead or ( B ) if its a at a premium which will indicate to the funder that there is good news shortly and if so that's privileged info which should be conveyed to the market, one way or the other the persons being offered this placement are in a position of advantage.

AUR Price at posting: 7.7¢ Sentiment: Buy Disclosure: Held
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Last 0.7¢		Change 0.000(0.00%)		Mkt cap ! $2.383M

Open	High	Low	Value	Volume
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