Company is doing what it said it would. it's being done to Plan and on Schedule. This Fundraising has been above Market sp And we get to join in with our share plan. I would say this is a job well dine but given the backdrop of the Sector, our Peers and the above Market price for this raising I think this is, actually, quite remarkable...outstanding even! Well done Mark and the Team!!!
Forte Energy NL ("Forte" or "the Company") (ASX/AIM: FTE) is pleased to announce that it has accepted investor commitments to issue capital up to approximately A$1.65m before costs as part of the placement approved by shareholders on 30 July 2014.
The placement comprises approximately 296 million shares each at an issue price of 0.56 cents (approximately 0.31 pence) and 148 million options (1 free option for every 2 shares issued) with an exercise price of 0.5 pence (approximately 0.89 cents) each and exercisable within 2 years of grant. When the placement settles the Company will lodge an Appendix 3B and make an announcement to AIM with further details.
The Company has the capacity to issue a further 304 million shares and 152 million options under the resolution approved by shareholders on 30 July 2014 and is in discussions with other potential investors.
As part of the placing the Company also intends to allow all existing shareholders the opportunity to participate in a Share Purchase Plan, which was also approved by shareholders on 30 July 2014. Documentation for the Share Purchase Plan is being finalised and is expected to be forwarded to shareholders within the next two weeks.
...Trading Halt is carried over to Friday. Under ASX Rules this is business as usual and is effected by way of "Suspension". Of itself, this is no cause for alarm...maybe had to send out for more wax for the seal...
Armflick: What evidence can you present to support your theory that "uranium will be mined in Košice and will be processed into fuel which will be used in Slovakian nuclear power stations"? Absolutely none. Or maybe you own a magic crystal ball?
As to the facts, they are the following: 1. Local people are constantly strictly against uranium mining in Košice. 2. Slovakia doesn't have (and never will be allowed to have) its own capabilities for producing its own nuclear fuel from U3O8. 3. Nuclear fuel produced by Areva is incompatible with Slovak nuclear power plants in Mochovce and Jaslovské Bohunice (and Areva has never even considered producing fuel for VVER-type reactors). To sum up: all the facts speak rather against your theory.
ASX announcement has been an excuse for the MMs to tree shake. Weak longs on cfd have doubtless been on margin calls and some inevitable sells in the fallout. I wonder how different it would have been if the Announcement had been later this week and merely said we were now fully funded?
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