This is very good, it shows the directors are will to put their money in, at a premium too.
This is about showing a lot of confidence in the projects, the market should recognize that.
With gold heading north again the value in the ground will only increase, and if they ever find the extent to the gold in the area (it keeps getting bigger), combined with shallow finds (cheap to extract), the SP should get to a sensible level for what we have.
Why would they set the price at a 35% premium when they could have set it at a discount? It's not the wide boy practice that we have become accustomed to with AR!
Why did they not take up any at 0.11 in the placing?
Oh, and the new boy, the entrepreneur, is half-in. Tells a story! pmsl
The last placing represented over 29.9% of the enlarged shares in issue, and yet nobody held 3% two days later when the major holdings was updated and there have been no notifications since? Go figure!
ps Coli congrats on the milestone post, saw the 777 one yesterday. Where is he? Morning John. pps still available @ <0.095/million
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