RE: So if we are selling a chunk21 Sep 2021 13:02
Mac, absoloutely spot on.
The reason for the placing was highlighted in the Q&A RNS 22 June 2021, it's telling us if the ROSGEO resource numbers were higher than already released further funding may be applicable mindful of shareholder dilution.
So this tells us
1/ The Rosgeo resource is significantly higher than 104 mill oz
2/ The BoD are true to their word as an ii wanted a larger slice of the cake but the BoD curtailed that as they require x amount for the ROSGEO license and are not prepared to dilute any more than required.
22 June RNS:
Q1: Why is the company seeking further authority, given a large fundraising has just been undertaken?
It would be quite unusual to not seek authority and these resolutions are put to shareholders at every AGM. The Board considers the Company very well-funded and does not currently have specific intentions for a further fundraising, however, the Board asks that its members make that option available, for example, in case the Rosgeo Joint Venture development this year results in proving a resource higher than already released (104.6Moz Pt eq) and only if further funding will add value to Eurasia taking into account the implications of shareholder dilution, which the Board and management prefer to limit, being collectively the largest shareholders in Eurasia Mining.
IMO DYOR