They must have something in the Pipeline otherwise why would they only raise such a small amount of cash???
I often wondered if interested parties including Anglo were waiting for final mining approval before committing.. it's interesting that while in suspension the mining approval announcement came out..
it was also suggested initially they were going to raise 2.9m with 54m shares.. then the company went from a trading halt to a suspension, during which the mining approval comes out and then it is announced they will be issuing 20 million shares to raise only 1.1 million.. I don't want to speculate too much however it does appear that their situation quickly changed and perhaps they have some better options with the news that came to light..
# on a side note I would love to see them pursue any lithium targets they may have on the extremely rich ground we hold in an absolute prime position..
ANX Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
