Also asking for money is mineral sands development company Strandline. They are looking to develop WA’s Coburn project and a $120m raise will see them fully funded to complete this. The 20.5c raise is an 8.9% discount to last, but well short of their recent highs. The raise is no surprise, they needed the money. It will be interesting to see if the bidders into the raise follow through with buying after the stock starts trading again.
MM is bullish STA.
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