MYG 11.1% 50.0¢ mayfield group holdings limited

approx $13million in the kitty?

  1. 97 Posts.
    So according to the last few announcements...
    $3million cash listed in 28 June presentation,
    $1 million exercise of options in 11 July announcement, and
    $9.7million from todays capital raising

    This will cover the...
    $4 million due 24 August, and
    $2 million due 30 October to give us 70% ownership of Gullewa

    Not sure on the timelines for the remaining $4million to acquire the remaining 30% but enough in the slush fund to do so.

    In theory this cap raise gives us enough cash for 100% ownership with around $3million to progress drilling and other studies (minus any costs since 28 June). Alternatively it gives us 70% ownership come the end of October and around $7million for drilling and studies - with the remaining 30% to be acquired from other funding when actually required

    Seems significantly derisked (at least from a working cash perspective) and I am hopeful the share price will reflect this soon
 
watchlist Created with Sketch. Add MYG (ASX) to my watchlist
(20min delay)
Last
50.0¢
Change
0.050(11.1%)
Mkt cap ! $38.41M
Open High Low Value Volume
50.0¢ 50.0¢ 50.0¢ $99.09K 198.1K

Buyers (Bids)

No. Vol. Price($)
1 141 47.0¢
 

Sellers (Offers)

Price($) Vol. No.
49.5¢ 8892 1
View Market Depth
Last trade - 10.07am 03/03/2021 (20 minute delay) ?
(live)
Last
46.0¢
  Change
0.050 ( 20.7 %)
Open High Low Volume
46.0¢ 46.0¢ 46.0¢ 256
Last updated 12.21pm 03/03/2021 (live) ?
MYG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.