when would next capital raising be likely?, page-53

This is very ugly now for MEO considering there is only ~18 million in the bank and the following facts, I really do not see how one could justify a price too much above actual cash on hand:
1. ~$10 million administration costs per annum year on year
2. ~$33 million losses per year on year
3. $34 million expected costs for this quarter Q4/2012
4. $55 million cash at start of quarter Q4/2012
5. ~3 cents cash backing per share now

I still think a capital raising will be requied in Q2/2013 that will likely be at a discount to market in a very difficult time to raise cash.

The bottom line now is that MEO have to pull the breaks on all expenses, catch its breath and start again...