- Joined
- 3 May 2019
- Posts
- 6,301
- Reactions
- 9,928
Thanks, I glossed right past that!
29M - 29Metals Limited
- Thread starter System
- Start date
-
- Tags
- 29m 29metals limited
Dona Ferentes
Pengurus pengatur
- Joined
- 11 January 2016
- Posts
- 16,066
- Reactions
- 21,929
29M has completed the retail component of its fully underwritten 1 for 1.43 accelerated non-renounceable entitlement offer.
The Retail Entitlement Offer closed on Thursday, 19 December 2024, with valid
applications received for approximately 2.5 million New Shares.
The Entitlements of Ineligible Retail Shareholders, and Entitlements not taken up by Eligible Retail Shareholders, represented 95.5 million New Shares which will now be acquired pursuant to underwriting and sub-underwriting agreements relating to the Retail Entitlement Offer by the underwriters and sub-underwriters.
The Retail Entitlement Offer raised approximately $26 million at the Offer Price of $0.27 per New Share..
.
.
- hardly what I'd term an " enthusiastic uptake ." Now 24c.
can't see much early upside ?
The Retail Entitlement Offer closed on Thursday, 19 December 2024, with valid
applications received for approximately 2.5 million New Shares.
The Entitlements of Ineligible Retail Shareholders, and Entitlements not taken up by Eligible Retail Shareholders, represented 95.5 million New Shares which will now be acquired pursuant to underwriting and sub-underwriting agreements relating to the Retail Entitlement Offer by the underwriters and sub-underwriters.
The Retail Entitlement Offer raised approximately $26 million at the Offer Price of $0.27 per New Share..
.
.
- hardly what I'd term an " enthusiastic uptake ." Now 24c.
can't see much early upside ?
- Joined
- 8 June 2008
- Posts
- 13,019
- Reactions
- 19,122
Wouldn't the 27c create a kind of floor?
Maybe at 24c becoming worth a trade gambling..
Dona Ferentes
Pengurus pengatur
- Joined
- 11 January 2016
- Posts
- 16,066
- Reactions
- 21,929
the company has nearly doubled its shares on issue ...27c might represent a base valuation going forward, assuming a lot of things
- Cu price holding
- construction phase going on schedule and on budget
- shareholders AustralianSuper and BUMA staying the course
- EMR Capital not cutting and running. (still 23.0% post Equity Raising )
But it's 24c on recent volume so someone is wanting out.
Last edited:
- Joined
- 12 January 2008
- Posts
- 7,290
- Reactions
- 18,149
29Metals - Selected for the CY25 comp.
2024 was a royal annus horribilis for 29M. Two floods early in the year (wet season) stopped copper production at its Capricorn Copper mine (Qld). It's taken a year and lots of money to treat and release the accumulated water. Water can only be released once treated and only during the wet season. The 24-25 wet season may not allow release of all the water that has accumulated on site. Cash burn should ameliorate during 2025 but production restart is unknown.
Golden Grove (WA) production is ramping up and 29M has raised more capital to extend the mine to new areas (Gossan Valley).
Better outlook for 2025 as capital raised for GG expansion and cash burn by CC will lessen.
Like all copper miners 29M will need copper prices to rally to attract investor buying.
2024 was a royal annus horribilis for 29M. Two floods early in the year (wet season) stopped copper production at its Capricorn Copper mine (Qld). It's taken a year and lots of money to treat and release the accumulated water. Water can only be released once treated and only during the wet season. The 24-25 wet season may not allow release of all the water that has accumulated on site. Cash burn should ameliorate during 2025 but production restart is unknown.
Golden Grove (WA) production is ramping up and 29M has raised more capital to extend the mine to new areas (Gossan Valley).
Better outlook for 2025 as capital raised for GG expansion and cash burn by CC will lessen.
Like all copper miners 29M will need copper prices to rally to attract investor buying.
Dona Ferentes
Pengurus pengatur
- Joined
- 11 January 2016
- Posts
- 16,066
- Reactions
- 21,929
- Joined
- 8 June 2008
- Posts
- 13,019
- Reactions
- 19,122
I just got out, zero sum...in out 23.5c
- Joined
- 8 March 2007
- Posts
- 2,796
- Reactions
- 3,823
I hope you don't mind me asking " Was that an Intra day Trade or a Long term Trade?"
I note there has not been a Sale @ 0.23c for 11 Months
Sailing the 29M-------One WEEK at a Time-------&------------One DAY at a Time------------------------&-------15 MINUTES at a Time
Attention to Detail is EVERYTHING
Salute and Stay Safe
- Joined
- 8 June 2008
- Posts
- 13,019
- Reactions
- 19,122
Captain:
details below, hope it helps; was a short trade which I would have kept if it had shown some substance:
Bought 6400@23.5c 2/01, sold the lot 6/01 at 24.3c for a gain of $41.4
paid $3.3+$6.5 in fees to buy sell
I used Saxo for the broker
Raw extract from my spreadsheet
| 29M | 6/01/2025 | copper mining | 2/01/2025 | 6400 | $0.235 | 3.3 | $1,507.30 | $0.243 | $6.50 | $1,548.70 | $41.40 | 2.75% |
