"37.5 pence per share (a discount of 1.1 per cent. to the VWAP on 10 October 2012), raising gross proceeds of £26.25 million (approximately US$42 million)." from RNS.
Looking at the results it actualy looks very positive and the SP is drifting back up again. Seems to confirm a base value on the share of 38p and released money to ensure the quick completion of current work and hopefuly secure future development prospects.
Disappointed to see this dripping down 7.5% in the last 5 days and I suspect that the placement annouced after trading finished will see a short term drop again in the SP. Long term I can see why they need the funds and maybe a good future play possibly.
Those that sold today (last 5 days) will probably have an oppertunity to buy a little lower tomorrow on the placing news as we contemplate dilution. I didn't see how many shares where in that placing just that they want to raise 24million GDP.
Looks realistic although we have been down this road before. Unless something urgent comes up I think I shall hang on until the Paraguayan story unfolds. It's too good to miss, and the "controlled" nature of all production at Platanillo is added assurance.
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