Arc has replenished its warchest after raising $2.88 million in a placement to clients of broking firm Euroz. The eight million shares will be issued on 1 August at 36 cents.
Arc said the funds would be used for the evaluation of the Hovea 1 and 2 oil and gas discoveries.
"The additional costs to complete the Hovea 2 well plus the costs of the deepening and possible sidetracking of Hovea 3, together with ARC's philosophy of maintaining a conservative approach to its cash position makes this placement a prudent course of action at this time," said the company.
Arc gets placement away @ 36 cents
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Mkt cap ! $75.45M | |||
| Open | High | Low | Value | Volume |
| 22.0¢ | 23.0¢ | 22.0¢ | $67.13K | 293.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 4 | 133413 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 23.0¢ | 9688 | 1 |
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| Last trade - 16.10pm 27/05/2022 (20 minute delay) ? |
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23.0¢ |
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| Open | High | Low | Volume | ||
| 22.5¢ | 23.5¢ | 22.5¢ | 75165 | ||
| Last updated 15.56pm 27/05/2022 (live) ? | |||||
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