There was no mention of a rights issue in the announcements made to the market this morning. They could be considering further funding via a gold prepayment or they might consider selling part of their holding in Northern Star Resources which has a market value of about 75 million.
I don't see a large and dilutive capital raising at this time, I'm guessing that they possibily find themselves a little short of working capital, given the number of projects starting production at the moment, in particular Big Bell and various targets at Meekatharra.
Personally I would prefer a small cap. raising to sophisticated investors of about 10 or 15 million shares than the sale of shares in soon to become million ounce per year gold producer Northern Star.
Cheers to other holders
NB. Do your own research
There was no mention of a rights issue in the announcements made...
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Last
$2.85 |
Change
0.010(0.35%) |
Mkt cap ! $2.527B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.88 | $2.83 | $5.068M | 1.776M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 49644 | $2.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.85 | 104299 | 3 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| WGX (ASX) Chart |
