Reabold announced this morning that it has successfully raised £2.65m (gross) via a placing of 240.9m shares at a price of 1.10 pence per share, a 29% premium to both the last price Reabold raised funds at and the 90 day VWAP. We reduce our RENAV from 4.0p to 3.8p to take into account the modest dilution, but believe the discount to RENAV should narrow given greater balance sheet flexibility. We remain BUY ahead of testing at West Newton, Romania drilling and on going activities in Cali
02 Jul 2019
Successful placing
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Successful placing
Reabold Resources plc (RBD:LON) | 0.1 0 0.0% | Mkt Cap: 8.67m
- Published:
02 Jul 2019 -
Author:
Jessica Saadat -
Pages:
3
Reabold announced this morning that it has successfully raised £2.65m (gross) via a placing of 240.9m shares at a price of 1.10 pence per share, a 29% premium to both the last price Reabold raised funds at and the 90 day VWAP. We reduce our RENAV from 4.0p to 3.8p to take into account the modest dilution, but believe the discount to RENAV should narrow given greater balance sheet flexibility. We remain BUY ahead of testing at West Newton, Romania drilling and on going activities in Cali