Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I wonder if Killik will take part in the placing .They did keep increasing their holding a while ago.
Result of Placing
"Further to the announcement made on 4 May 2021 by the Company in connection with the proposed placing to raise a minimum of £9 million (the "Placing Announcement"), Infrastrata, a company focused on strategic infrastructure projects and physical asset lifecycle management, announces that it has conditionally raised total gross proceeds of £10.3 million before expenses under the Placing at an Issue Price of 30 pence per share, following the closing of the accelerated bookbuild"
John Wood, CEO of InfraStrata commented: "I am grateful for the support shown by our shareholders through this process. The Company is on the cusp of a transformational change following the award of the Saipem contract. We believe that this contract is the first of many that will flow through our yards over the forthcoming months and years. Key to winning and delivering on these large contracts is the ability to demonstrate a strong balance sheet and liquidity within the Company's operations. This placing will achieve both these objectives and we look forward to making further announcements on contracts in due course."
The Group is pleased to announce that a total of 34,333,334 Placing Shares have been successfully placed at a price of 30 pence per Ordinary Share, with new and existing investors, which, has conditionally raised gross proceeds of £10.3 million (net proceeds of approximately £9.6 million after expenses).
The Placing Shares together represent 42.15% of the Existing Shares.
12,160,353 Ordinary Shares have been conditionally placed pursuant to the First Placing - trading from 07th May
22,172,981 Ordinary Shares have been conditionally placed pursuant to the Second Placing - to be voted on - 24th May
From 07th May - 93,617,102 Ordinary Shares in issue
Pretty much come full circle. lol
First purchase, 20/01/2012. Shares in issue 90,991,599. Sp 13p.
By end of 2019 the sp had dropped by some 97% and the issue had increased by almost 4000%.
Didn't add the 2020 data into the spreadsheet, but a few more placings and a consolidation later and back to where I started, issue wise. Funny old world, eh. :)