In the current copy of AHA (Australian Hard Assets) Investor you will find an article on page 50 written by yours truly. The April/May issue of the bi-monthly magazine is the second so far. I enjoyed reading the first issue so when I was approached to make a contribution it was an easy decision!
|If you'd like to read the article I would recommend buying the magazine ($7.95)|
The story of Cobar Consolidated Resources (ASX: CCU) is a compelling one (which I covered in the article). If you've been following my blog you will have noticed I have covered their developments several times.
They have just raised capital again (should be the final one leading to production in late 2011), but unlike many juniors they are doing the right thing by existing shareholders. The previous two times they have raised capital at a premium to the share price (almost unheard of in the junior Gold/Silver sector). This time we saw a 5% discount to institutional & sophisticated investors, but a 15% discount for existing shareholders (via 1 for 10 entitlements offer). Way to look after the little guys!
Not only will the capital raised be put to good use for building the plant, but should provide some extra funding for exploration activities. We are waiting on results from a VTEM survey announced early April which should provide some solid leads for further drilling. The MD Ian Lawrence can be heard discussing the capital raising and exploration opportunities in this Board Room Radio presentation: Link.
Disclosure: Positions held in CCU. Not investment advice. Do your own research.