Given the Great Wall and Ganfeng loans are already disclosed to the market and we know the cash position of PLS, I would be very surprised if this trading halt was just confirmation of those two GW and Ganfeng Loans.
Looks like a $100m - $150m cap raise @ 60c or slightly below is on the cards to me. It wouldn't surprise me if another $50m of debt facility was tied in as well.
PLS needs additional cash for working capital and as a cash buffer. The GW and Ganfeng money plus the cash on hand might just cover the expected capex but they need some extra cash in the bank to cover cost overruns, potential stage one down time etc etc.
Ann: Trading Halt, page-42
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Last
$2.90 |
Change
0.020(0.69%) |
Mkt cap ! $8.732B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.94 | $2.80 | $102.1M | 35.55M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 314863 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.91 | 20820 | 2 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |