The entitlement offer stands to raise a max of 47 mill (before costs?)
Why do you think anyone would under-write that offer ?
They need the 47 mill to be able to negotiate extended terms of loans - not enough to even pay out the convertible bonds due in November (62 mill AUD/USD?)
If i saw these balance sheets now as an out-sider would I invest looking at income potential ????????
Or am I reading this wrong?
GXY Price at posting:
7.8¢ Sentiment: None Disclosure: Held
