Aah there I think you've hit the snag, to run the rights issue they have to put out a prospectus to dumb retail as they need protection. That would entail disclosing the negative cash situation..umm not good.
So raise 15m first via sophs Cr, make positive the cash balance..... Then you can offer to retail, nice looking prospectus etc... No need to disclose till the quarterly ...and funny old thing that happened after the ri closed.
Bit like they never mentioned fubaring the well causing a sidetrack, only saying high pressure in lower angwa. Yaay! .... Not a peep about upping mudweight which later caused the differential sticking and required a sidetrack.... Or why they were now exploring off map in the lower angwa using an appraisal well designed to enable sample retrieval in the upper angwa.. ?
We've all got to less accepting of what good ole boy Scott tells us.... If it's not in an asx release... Ask why.
Cheers mate tc
IVZ Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
