Ann: Capital Injection update , page-59

bigal36

ARU haven't got their hands on the $10m from ECE yet - meeting to approve is scheduled for 18 October.

So cash backing at the end of the month will be 2.8c per share. After the CR the cash backing will be 4.7c per share as 441m shares will be on issue.

ozbecool - big mistake relying on CommSec! ALWAYS get your cash data direct from the latest company Appendix 5B and CR announcements.

At the current cash burn rate ARU have enough cash for little more than 6 months - thats assuming ARU get the $9.9m from ECE next month - this may now be in doubt due to the 25% plummet in the share price since the deal was announced on 19/6.

Note - ARU still need to raise another $40m-$70m to build an integrated pilot plant just to validate the process flowsheet and complete the BFS. That means massive dilution + any further funding will more than likely need to be done at a discount so until this is sorted it will be a drag on the share price. If ARU cant get the additional funds then its all over.

Yesterdays massive sell off was linked to index quarterly rebalancing as ARU were booted out of the S&P ASX300 yesterday. Most of the 6.3m shares sold after the close was the rebalancing so the other 5.2m shares during the day was the smart money bailing out in advance of the rebalance.