Currently viewing Global edition

Cadence CEO floats 25p raise for Bacanora

Bacanora Lithium (AIM:BCN) has had to deny its 7% shareholder Cadence Minerals (AIM:KDNC) has inside information about a raise after comments from its CEO during a webinar coincided with a 17% share price drop on Monday.

Cadence CEO floats 25p raise for Bacanora Cadence CEO floats 25p raise for Bacanora Cadence CEO floats 25p raise for Bacanora Cadence CEO floats 25p raise for Bacanora Cadence CEO floats 25p raise for Bacanora

Shareholders of Bacanora got a shock after hearing the company could raise cash at 25p

Cadence CEO Kiran Morzaria reportedly implied to those on the call Bacanora would raise cash at 25p (US31.5c), which would have been a discount to the share price at Friday's market close.