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This should not come as a surprise, we have seen this before, a very prudent move we have seen the SP double since September , there is no doubt a lot of interest in 88e .
Dave will have a reason for this .
1. Safety net just in case... ?
2. Someone has offered to buy in ?
3. Another crack at Winx ?
4. Funds to progress Yukon?
5. Funds to progress HRZ ?
6. Something new ?
We will all find out soon enough, judging by some of the comments on here in last few days it could be a good thing as many wanted SP to go down to allow them to buy in lower, well this should have that effect..
If the conventional is anywhere near what the potential of this drill is another few hundred million shares onto the 6.8bn won't really matter...
No doubt the naysayers will scream and shout, but without cash we would not be in the enviable position that we are in - one of the largest acreage's with a great deal of potential .
We just need to find and proove the oil that is in our acreage to make this Company into a very saleable entity which is what most Long Termers bought into .. The possibility of a mega reward
Interesting times - I 'm still in it for the longer haul , and end game.
BB32
Whatever it is its a raise below todays price!!!
The drill this winter has not changed any at all
Everything is still on track
Slight retrace on the SP upon reopening
Few more shares added to the mix
Still a massive prospect
NOTHING BUT A BIT OF EXTRA CASH IN THE BANK FOR WHAT IS AN UP AND COMING YEAR FOR 88E
More dilution how is that good for potential share price? :/
BB32 : Great post , but WHY can`t he give us the detail ?
Is it because it involves another Company that is only listed in London , and the detail has to be released for both Compaies at the same time ?
Maybe, but we shall have to wait a little. Oil in situ not budging. :-)) VGLA
V111JAS,
There in lies the $64m question why?
Exciting journey .
Bit like your football team being relegated twice in a couple of years , getting promoted once, fighting and just failing to get promotion again, football getting better on the verge of play offs, can they do it this year ? Could they then do a Leicester City and win Premiership at 2000/1 ? Next year ....
Let us hope this time it is more exciting than raising the money just in case !
Soon find out ..
BB32
Dw needs to be very careful at what price he wants
To raise at imo. Could see alot of people opting straight out once trading re commences
After my initial disbelief and disappointment , I`ve been looking at the trading in both ASX and LSE .
Clearly `some` have had wind of what`s going on , but it seems that the SP has been quite robust .
Charlie obviously still on track , so this must surely be associated wit some new enterprise or development .
IF ~ IF they need funds to advance some new project , or more interestingly some joint venture , then this CR could in fact prove to be advantageous for the SP , provided ;
The project is potentially value accretive .
The funds are underwritten .
Any partner is credible ( I exclude RMP!)
There is serious proof of concept .
I`m thinking that / Hoping that the detail tomorrow will be a positive , not just some `Prudent` move to keep the lights on ~ AGAIN !
GL.
BB32 ~~~ Can`t disagree with any of that !
Fingers crossed :)
V111JAS,
Totally agree, how about this......
Erik is the key....
https://wcsecure.weblink.com.au/pdf/XCD/02172094.pdf
Also
https://wcsecure.weblink.com.au/pdf/XCD/02194308.pdf
Just musing out aloud ?
It's late and mind thinks very laterally...
BB32
BB32 ~~~ Funny you should point that out .
I only started to focus on XCD last week , but didn`t give it much interest it was ASX listed .
Something in that area might just surprise everyone .
I just hate Half stories !
Regards .
Over on HC.... looks like there after $3 million to strengthen cash balance. A 16.1% discount to help with the HRZ managed by Hartleys. Small dilution and nothing to worry about in my opinion. If memory serves that's about how much they were short on the last CR...
When do we recommence trading then? Friday?
It hi LG
, "Unless ASX decides otherwise, the securities will remain in trading halt until the
earlier of the commencement of normal trading on Friday, 24 January 2020 or when the announcement is
released to the market."
.Standard wording for trading halt,.... Latest is opening Friday Oz time however Ann can come earlier. Up to company when update released
Cheers Avi
So they are giving themselves 2 days tops
To find the 3m?
Think it's a done deal
https://hotcopper.com.au/posts/42510288/single
Cheers avi
"Think it's a done deal"
i`m not sure what you mean .
~~~ " bids were being called for by 4pm on Wednesday."~~~
Are they saying they`ve raised the 3 m ?
If so , presumably they will leave the offer open for the other 1m ?
Cheers avi, guess we will just have to wait till 830am uk
Time to see the effect on the
Sp
V., it's 2pm here now..
Cheers avi
That east coast time, perhaps it WA time, I am not knowing
Cbeers
DW must have his reasons, good or bad, but to wipe $28,000,000aus (16% discount) from market cap in order to raise $3,000,000 does seem a little odd.
Avignon : It`s exactly 10.00 pm here .
So am i right in thinking this? They hope to raise it by 4pm aussie time today? And resume trading on aim as normal today having raised?
It doesnt make sense to me how it is worded, sorry for my ignorance!
LG
Nope !
It IS badly worded ~~~ nothing new there then !