Yes - if you don’t have the 15k cash that is the best strategy
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Yes - if you don’t have the 15k cash that is the best strategy
I was expecting an announcement? Was I mistaken to believe they would announce something today if they were allotting today, or are the key words "intends to allot" and the intention didn't happen aha :t_down:
Yeah, it's another strange thing about this CR, TS. They didn't say anything about scaling back if it's over-subscribed, did they?
So if there's good news before 19/7, they could get a huge amount of money coming in. Oh dear, what to do with all that money?
My strategy for this SPP is to wait a bit closer to 19/7, hoping the SP rises a bit (or a lot :eek2: ) and throwing in just $4k of my own, and buy the maximum $15k of new shares. $4k is just the amount I feel comfortable with right now. I've put the various market prices and amount I'd sell on a spreadsheet to help me decide. There's some great averaging down to be had here, I reckon, even if I sell at the current 0.7c, which seems reasonable, if not certain.
And if the market price rose to 1.1c, the effective price for my new shares drops to around 0.247c.
(I find this a bit hard to believe, myself, maybe someone can check my arithmetic. But if I sold a million shares at 1.1c = $11k, add in my own $4k, equals the maximum $15k allowed, to buy 2,617,801 new shares (including the bonus shares) So I’ve bought 2,617,801 - 1,000,000 new shares, = 1,617,801 for $4k. That’s .247c each, I think)
And yes, thumbs up to your last comment, Brain!:t_up: [Edit, sorry, 2nd to last comment about the bright future!]
They have announced to the ASX, presume the NZX will get theirs in the morning. $715,000 raised so far.
https://www.asx.com.au/asxpdf/201907...s8fzgs086h.pdf
The announcement is a clear nod to everyone that they have got the funds they needed to carry on till the cavalry arrives, enough dosh to keep them operating (without bank loans) till the money / gold, starts coming in.
That gives massive confidence to everyone else who was considering taking up their 15k of more shares.
I am more happy than I have been the last couple of weeks.
But looks like Rahu is a goner before that baby was even a glimmer in Mat's eyes.