RE: No need for a cash raise12 Apr 2021 09:11
My short name suggests novice so need some response from experts on some of the recent RNS:
- Cost of Drilling increased by US$2.6m which equates to AU$3.42m due to a 4-week delay because of licencing issues.
- Shares issued to ELKO exactly below the 3% mark (360m) for AU$6m with 225% premium on the placing price of 12th February.
Can ELKO sell the shares without doing any declaration to the market as the shareholding was below the 3% mark? Also while reading the two RNSs, there is also a potential that ELKO got half of the shares for free !!