The SPP is expected to be underwritten?!?!? They didn't even lock in the underwriter before the SPP!
With a falling gold price and a share price under the SPP offer price Azure will now be trying to bail rather than take a near certain loss on most of the $10m.
The week buys them some time but they need to make some real progress before shareholders myself included take up the SPP.
Ann: Extension of Closing Date for SPP , page-6
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