RE: Equity raise27 Aug 2020 09:15
I'm hoping mostly done in offtakes too. There will be strong demand for a new nickel mine with chance to have excellent record on environmental and personnel matters which is what big brand customers want now.
The company has a 15m cash position so can and should do any raise from a position of strength without warrants. I would like to participate if were warrants but I imagine they will go to II, which will actually help the SP as shows faith by serious investors and seen as a usual step in the value cycle of a mine and a buy signal. Shoots up on discovery then tails off for a while, reaches peak as near production and ii join in with full financing in place. All being well.
Company should raise only at 15p+ if they have to IMHO. See how easy it was for EUA to raise 10 million when mcap was high at just 1.23% dilution. And it also silenced the people saying why no ii's yet this is looking fishy who had just appeared.
There is a good BOD here but they don't hold a huge amount of shares which I guess might increase the odds of a placing in which they partake. They have some shares at least and will make a chunk if goes to 30p. They may have some other bonuses built in though, based on SP, not sure. I think I read yesterday 38% of shares are in public hands so they should not find it easy to get away with murder anyway if that is right.
I like the CEO I haven't been here long since 3.8p and I think it was his buy at 3.6p which gave me confidence to press buy after all the good research posted on here I read. He seems a consummate pro.
I don't think anybody here is helping the SP by having a guess the placing price competition. Even if it is expected at 15p or whatever.