Every cap raise comes at a discount, and 10% is the bottom end of that. Our last cap raise was at 22% discount. How do you find a flaw in minimal discount + guaranteed capital if needed, but no obligation? It's good insurance.
With $10,000,000 to 200 mil shares you could assume that the goal is to draw on it at around 5c. Then there's also $20 million worth of options to be converted at 5c also. We could be looking at 50 million cash when lithium runs hot again plus production well approval in coming weeks.
Every cap raise comes at a discount, and 10% is the bottom end...
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Mkt cap ! $107.3M | |||
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| Last trade - 16.10pm 11/06/2024 (20 minute delay) ? |
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