called management, page-13

If they announce a raise it is all over...current market cap can't support a raise as it would be an EPS killer and the SP would never rise above current levels.

Think about it to raise $200mil they would need to doubvle the number of shares on issue and thats if they could do it @ 15 cents !

I think the stock will need to trade out of it with the help of the banks and scale the business down to the bone but this may mean that even after the resource market recovers the stock may be only worth 40 - 50 cents.

I too think its undervalued but waiting for the results before I buy back a small holding.