Share Talk Ltd

There was also knock the ball out of the park good news from Xtract Resources (XTR) as it announced a £1m fundraise, at ostensibly very favourable terms. The facility can be drawn in stages, or not at all, and is not only unsecured but also free of interest. The company stated that the nature of the financing meant that dilution to shareholders would be minimal. However, the share price remained down – some 11%, as the stock did not have time to readjust after recent persistent bear attacks on the company, and in the run-up to funding news. Colin Bird, Executive Chairman said : "The ongoing effects of COVID-19 are still unknown. At a personal level it is affecting the health of millions and the personal finances of families worldwide. At a country level no government is coming out of the crisis well and most are now heavily indebted. At the corporate level it has reminded us that the unknown risk is around the corner and it is against this background that the Board has decided to put in place the Facility