Cash crisis and capital raising looming for this serial underperformer.I would say that with Vanessa Guthrie taking a leading role at Toro recently she will exit the board soon as a director.
Production at Meekatharra though largely unreported may not be in line with expectations and as a result we have the current share price slump.
The directors and Key Management Personell KMP will continue to draw large salaries from the capital raising funds provided by shareholders.Lets not forget the 19 million facility that is fully drawn and is going out the door fast.
I would say that more shares will be required by a lender because of a directors loan arrangement pledge in the next day or two triggered by the latest slump.
The shares will most likley be handed over and sold into the market.
Bravo 50c by Jan 2013 just cannot take this one seriously they have taken way too many people to the cleaners whilst helping themselves.
no news = bad news, page-7
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