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16/12/15
13:20
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Originally posted by milesy
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Given the company's history, I would say a capital raising coming soon.
They tend to occur just before major exploration/acquisition announcements, that haven't necessarily ended up as positive outcomes (has anything gone right for this mob?).
The massive after market buy yesterday was just a little suss?? Why not buy during the day and entice sellers at lower prices?
$1.425 mill in the bank at the end of the last quarter, with $650k expected spending (before the announcement to fracc and test their last drill hole).
Market cap $11 mill.
The math is pretty simple.
They have reasonable prospects (in my opinion), but need a lot to go right.
The share price is being played beautifully, so it may well entice a short term run, but I should disclose that every time I've touched this company it has caused financial pain, so I may be bias to the downside so this time I'll wait for actual news.
Milesy
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Ugh. Capital raising for what? The forthcoming large acquisition which is to be paid for in shares as per the last anns? Or the fraccing and testing over the next 6 months which has already been paid for? Or just to sit on top of the 1.5 mil in the bank?
The stock always causes you financial pain, yet here you are.
Yeah, maths is simple.