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.Share
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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Last
$2.02 |
Change
0.07(3.59%) |
Mkt cap $240.1M | |||
| Open | High | Low | Value | Volume |
| $1.95 | $2.02 | $1.95 | $166.6K | 83.88K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2943 | $1.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.02 | 8320 | 1 |
| Last update - 16.10pm 13/12/2018 (20 minute delay) ? |
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Last
$2.02 |
Change
0.07 ( 3.32 %) |
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| Open | High | Low | Volume | ||
| $1.95 | $2.02 | $1.94 | 9940 | ||
| Last updated 15.59pm 13/12/2018 (live) ? | |||||
| ARQ (ASX) Chart |