Ann: Share Placement Raises A$3m, page-31

Come on @ausheds, why not look at the most relevant history, which is that capital raising immediately preceding this one to understand the current ability of management to raise capital this time. That is the only real way to judge the recent placement.

ARU raised money in December last year with an OVERSUBSCRIBED SPP prior to the DFS being released that raised $3m, which was also combined with a $1m placement (so $4m in total). This was done at a 20% discount and again was OVERSUBSCRIBED by shareholders and supported through a placement, with no visibility into the DFS results.

But after a much anticipated DFS was released and viewed as having positive results by the market, along with corporate action from WES with LYC, along with a strong rise in the share price, they then offered sophisticated investors (Funds and Brokers only) a 30% discount, which has then not surprisingly led to the weak hands (gee I wonder who that could be?) dumping their shares on market for a quick profit.

Maybe Management will realise off the back of this that they need to seek better counsel than their current advisor/broker around capital raising's.