RE: Dead cat bounce19 Oct 2024 11:33
They have money and have just raised, I can’t see them raising again and again
In February 2024, the Company raised £300,000 gross from one corporate investor at a price of 1.2 pence per share which provided additional working capital for the Company but importantly it was used to initiate exploration operations at the Mosquito Creek property in the Pilbara.
In May 2024, the Company received notice to exercise warrants over a total of 25,000,000 new ordinary shares of 0.1 pence each in the Company issued at 1.0 pence per share. The exercise consideration was £250,000.
The placing announced on 20th September 2024 which raised £360,000 will significantly improve the company's cash position providing funding for exploration and operations. This financing was led by Tavira Financial Limited.