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
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