A typically uneducated response from the usual suspects.
This is a strategic move from the company screaming to the market that they will not have to raise funds at any time in the future.
They have not in fact, at this stage, borrowed a cent. The facility is available if and as required. But this is not about the need for funding, the latest financials show that clearly, especially given the fact that the company is rapidly closing the gap towards cash flow positivity. It is in fact the opposite - they are showing that they will NOT need to further dilute shareholders at all, they have access to funding IF REQUIRED, and from a major shareholder in Capricorn.
Brilliant.
SPX Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)