"Might roll it all into the AGM to save costs of another meeting later on to get it voted on."
very unlikely. They got approval to raise $10m at the last meeting. Which happens to be exactly how much more they need to fund the well. They didn't do that just so they could waste another 6 weeks calling a 2nd meeting. Once the funding is announced I believe there'll be a drill in the ground within a week.
Looking at todays action one could speculate there's a leaky ship. When 0.3c was close to line-wiped someone jumped the queue to take 20m at 0.4c instead of doing the obvious thing and waiting a 0.3c. That indicates they didn't want to wait even the couple of days it might take to get filled.
Perhaps the capital raising will come with a suprise attached. An asset sale for example reducing the need to dilute substantially. Give that the dilution is pretty well known and probably already built into the shareprice a non-dilutionary method of raising funds could be a significant catalyst to rerate.
AWD Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
