Yesterday’s announcement of a discounted raise ahead of the ASX listing next year was a surprise but not unexpected. The principle of give to get still works. The 90% surplus to NAV is now close to zero following the raise and share price fall. The raise is ahead of another raise so the funds aren’t going to remain as cash but delineating the resource and progressing the PFS is driving value and offers potential upside too
Yesterday’s announcement of a discounted raise ahead of the ASX listing next year was a surprise but not unexpected. The principle of give to get still works. The 90% surplus to NAV is now close to zero following the raise and share price fall. The raise is ahead of another raise so the funds aren’t going to remain as cash but delineating the resource and progressing the PFS is driving value and offers potential upside too