WG The first placement they did recently was spot on the 15% limit whereby shareholder approval is not required. Further placements in the near term will require shareholder approval.
Current options
Resolution 6 seeks approval for up 40 million shares at minimum 20c. (A portion of these are already allocated in the recent "Further Placement") So that's one option to place any RI shortfall although minimum 20c seems a bit optimistic at this stage ?
Resolution 7 seeks approval for a further placement of 20mil shares at minimum 80% vwap. This could be a likely vehicle for any RI shortfall placement. That would equate to ~14-15cps
Resolution 8 seeks approval for Albers Inc to step in for the shortfall but that would defeat the whole purpose of his exercise imo
I too contacted the Co. secretary about this but he was non committal, neither suggesting or ruling out any of the above options.
MOG Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
