Australian (ASX) Stock Market Forum

CQT - Conquest Mining

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any reason why the shares would drop by 10-11 % based on the capital raising? Is it because the market was expecting a drill result or is a share price drop normal after a captial raising?
 
The capital raising was done by selling millions of shares at 35 cents each.

It is bad news... not the good news that we hoped for.

:mad:
 
Well I reckon the whole thing stinks.

Back on the 16th they reckon there was no need to do a capital raising excercise.

And given that the share price has been hanging around the 40 cent mark, why 35 cents?

And why was no offer put out to us shareholders to partake in this raising.

Also they have +70M options at 20 cents coming out in December.

Not happy as it smells of good rates for mates.
 
Hmmm well things did better than what i thought they would. 40.5 is not a bad close. Still waiting for these results to come, and hope they come before december as i want to take profits before the 70 odd million options come onto the market.
 
I gotta admit I think it smells a bit funny to, I may indeed sell soon.
 
Realist said:
I gotta admit I think it smells a bit funny to, I may indeed sell soon.
Click to expand...
Bin them , too many other good things to go on,like a failed relationship, kiss it goodbye,dont stalk it....
 
I don't think it is that bad, but I have concerns after the past week's debacle. :(
 
Realist said:
I don't think it is that bad, but I have concerns after the past week's debacle. :(
Click to expand...
I posted last night that they were chasing bucks ,after all drilling in volume is exy.It will be all good news from here. IMHO. dyor ;)
 
Well that may be true, but for the fact that 15 days ago it reckons there was no need to raise capital as the loan, sale of land, and cash on hand meant it was fine until october at the earliest. So what has happened to make the need to raise capital so soon after that announcment? No explanation given.

And who are the "high net worth investors"?
 
All speculation aside about who the shares were sold to and why it was at 35c - one thing to keep in mind is that the money raised is being used for drilling - drilling that will prove up a resource that everyone can see has significant potential - if it didn't they would not have been able to raise the funds so easily.

Raising funds from shareholders would have been great but the process is long and drawn out in comparison to raising from instos.

All we need now is some positive drilling results and things should get very interesting!
 
35c is more than I paid, and I suppose it gives a certain floor to the stock.

Instos must have done their maths first. So if they pay 35c you'd think it is worth at least 20% more than that - why buy them otherwise?

So I'll continue to hold. Not nervously now because of the 35c floor.

Same goes with MTN the takeover bid of 68c gives it a nice floor.
 
dbs0810 said:
Well I reckon the whole thing stinks.

Back on the 16th they reckon there was no need to do a capital raising excercise.

And given that the share price has been hanging around the 40 cent mark, why 35 cents?

And why was no offer put out to us shareholders to partake in this raising.

Also they have +70M options at 20 cents coming out in December.

Not happy as it smells of good rates for mates.
Click to expand...

All your comments would be fair if CQT had continued along the planned drilling schedule. Since the 16th they've begun drilling 24/7 - i'd imagine thats around twice the typical drilling time and therefore would require extra funding.

As it is, we've seen a placement now that will top them up till next year, that means the only news that should be coming out from now on is about drilling results.

Its still worth noting that hole 39 has not been included in any resource upgrade as of yet, and they are drilling holes around this area to firm up resource estimates. Either way we should hear good news in the coming months.

Cheers...
 
I got in on CQT at 9 cents.

I only boght a very small amount. i had no idea they were going to go boom town.

not blowing my trumphet but the confidence shown by investors is pretty high considering its not producing anything yet.

There are plenty of other mining companies out there who have the same goals and aspirations to enter production.


It's amazing how some just take off.


anyone got next months stock report... the things you'd do for tommorows paper
 
Realist said:
The capital raising was done by selling millions of shares at 35 cents each.

It is bad news... not the good news that we hoped for.

:mad:
Click to expand...

I dont see anything bad about a capital raising. If they dont sell it at a discount then why on earth would anyone want to invest in CQT? AT least this way the insto's can be safe in the short term if they want to bail. Dilution isnt that bad in this situation also.

CHEN
 
Capital raising is a good sign, it means they need money to invest in the business with the prospects of a return with a higher NPV. In other words, they think that for every dollar they are investing now, they expect more than that back based on what CQT do with it (and a lot more as they [investors] could invest the money elsewhere with less risk, just like us). WOuldnt suprise me if this stock is worth over $1 next year.
 
Well I hope you are right guys.

But the other way to look at it is, they have run out of money and need to raise capital just to keep going for a few more months, the company value gets dilluted, and other new people get in cheaper than the existing investors.

It is not good news, hence the share price fell a bit...
 

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