DRA 0.00% $2.11 dra global limited

It will be interesting to see how much extra is required for...

  1. 10,204 Posts.
    lightbulb Created with Sketch. 1938
    It will be interesting to see how much extra is required for these environmental bonds - this placement raises less than $A7mil but dilutes existing shareholders by 15.1%. The Company already has a very lazy Balance Sheet with Net Cash at 30Jun20 of $A8.4mil($A11.745mil in cash less $A3.345mil in debt) and on top of that I'm expecting another $6mil in profits for the six months to Dec20(and profits for DRA at least equals positive cashflow as the deprec charge would be higher than capex) - show me another mining company presently in production that doesn't have Net Debt - so I'm saying that the extra debt that is needed would have been much preferable than being diluted to such an extent of current and future profits.
    They have in the past not only borrowed funds from the Allied Group but also from Nordea Bank which is still listed as a banker to them on the Corporate Information page of the 2019 Annual Accounts - I really don't think it would have been too hard to raise this money as debt and on balance would have been preferable IMO.
    After the AGM in May this year, they will have renewed the mandate to issue another 15-20% of shares, so will it be rinse and repeat?
 
watchlist Created with Sketch. Add DRA (ASX) to my watchlist
(20min delay)
Last
$2.11
Change
0.000(0.00%)
Mkt cap ! $116.1M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
2 13402 $2.10
 

Sellers (Offers)

Price($) Vol. No.
$2.50 10 1
View Market Depth
Last trade - 19.00pm 29/03/2024 (20 minute delay) ?
DRA (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.