greggles
I'll be back!
- Joined
- 28 July 2004
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This is how you do a capital raising. $7.6 million raised in a heavily oversubscribed placement with Hancock Prospecting coming on board as a cornerstone investor to the tune of $2.65 million. That's a great show of support by one of Australia's best known mining companies.
The placement issue price of 10c is very good given that FBM closed at 11.5c yesterday, so only a 10% discount to the last close. Directors are putting their money where their mouths are with $225,000 invested by them.
It all looks very promising and now FBM have the cash to really make things happen.
Funds raised by the placement are to be used as follows:
FBM is moving their lithium projects ahead rapidly. I'm liking what I see here and hope that they can follow through in the coming months.
The placement issue price of 10c is very good given that FBM closed at 11.5c yesterday, so only a 10% discount to the last close. Directors are putting their money where their mouths are with $225,000 invested by them.
It all looks very promising and now FBM have the cash to really make things happen.
Funds raised by the placement are to be used as follows:
FBM is moving their lithium projects ahead rapidly. I'm liking what I see here and hope that they can follow through in the coming months.