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Because the Tweet said so "Flyover during Upper SFS flow testing at Hickory-1 discovery well."
Its an interesting company 88E, stock falls to 0.05 in Aussie trading today, equivalent to 0.26p, the management is getting so nervous that they just need to put out a pointless tweet.
Its the flame from the report test result.
Only 288k shares traded on the pink sheet, its nothing.
CEO confirmed that fundraise coming very soon.
David6576 I'm missing your optimism!!!
From investor presentation - GDR still need to provide further evidence to NICE before the full recommendation can come into force.
Thanks Systemzero
Have the company said how much cash they need to raise?
7.58m new shares at 6.59p, this is going lower now.
Muninr, the company wrote time after time in the recent interim report that they are already working on a equity raise. Its coming, nothing has changed.
The product may be great but it looks like a much better prospect of buying the stock in the placing or after the placing at a considerably lower price.
In the interim report, which was released on the 28th March, Genedrive wrote 6 times that they are looking to raise equity, and in several instances that the raise would be presented in the coming weeks. The stock have had great bull run, but we could get a placing RNS at any moment. I very much doubt that the investor in the placing is willing to increase the placing price much for the recent rise. I bet placing at 3-3.5p in the next week.
From the Interim Results
“Finally, we will seek to raise further equity funding in the coming weeks in order to provide a longer-term financing solution for the Company's exciting growth plans.”
“proceeds for the Company's proposed equity financing”
“As set out above, the Company is actively pursuing further equity funding to provide the necessary resources to execute the Company's growth strategy.”
“Our equity funding plans are being advanced and the intention will be to raise sufficient funding to complete the clinical trials and regulatory approval process in the USA”
“The Board intends to provide a mechanism for retail shareholders to participate in any equity financing and a further announcement will be made in due course”
“Therefore, the Company will need to raise further equity, or other funding, in the near term in order to continue as a going concern. “
4.69m new shares for the equity prepayment facility
What are the expectation to how GDR will raise fund before they run out of cash in the end of May?
First MM indication 0.16-0.21
Are people expecting fundraise next week after the weekend AGM?
Solo1, its a bit of classic, to do it like this and then end up raising for "better return"
Craignews, that is cost to move dirt. The SC6 cash cost is $680/t, includes mining and processing.
Craignews, the expect cash cost for production is $680/t, but all the NPV of the project is based on average sales price of $2080/t.