Dateline seeks $14M in massive raising

US-FOCUSED gold tiddler Dateline Resources is preparing to flood the market with new scrip to raise A$14.5 million before costs, via a 10-for-one rights issue at just 0.2c per share to yesterday's 1c close, a massive discount, that is primarily aimed at settling debts to its major shareholders.

Dateline seeks $14M in massive raising Dateline seeks $14M in massive raising Dateline seeks $14M in massive raising Dateline seeks $14M in massive raising Dateline seeks $14M in massive raising

Dateline needs cash to examine its Colorado gold project and settle debts.

 
The company's shares plunged 50% to 0.5c this morning, a multi-year low, and the market capitalisation halved to just $3.6 million, a predictable result given a plan to issue up to 7.

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