trading halt, page-19

AGO had $14.5m in cash at 30 June with plans to spend another $6m this quarter - leaving $8.5m at 30 Sep. I would therefore be suprised to see them raise money at this time for cashflow reasons. In addition, they have ~27m options expiry in Feb 08 at 20c each which would bring in another $5.4m. This will likely start coming in a major way from late 07.

Their is additional positive news expected in the coming months (eg JV partner) which would give the share price a boost, so a raising now would provide likely extra dilution versus one in a few months time.

If they do a raising, it will be about getting some new insto's on board and setting a new floor price - always a smart, strategic corporate move.

My money is still on something other than a capital raising.