trading today, page-8

Great find Titus.

"Alchemia's chairman, Mel Bridges is still trying to sound upbeat about a (much smaller) capital raising in order to complete the final stages of testing for its cancer treatment: “I'm meeting Peter for a social occasion tomorrow, so there's no animosity… We will look to take the overhang off and are quite confident.”
We take “overhang” to refer to the market's expectation of a capital raising, which is behind the plummeting share price. When asked how much this was going to be, Bridges said it depended on how much it would take from its golden goose, the $10 million or so annual profits from its Fondaparinux drug

Much will depend upon the thoughts of Simon Marais, whose Allan Gray holds 19 per cent and if Smith is right and the capital raising is swiftly done in the next fortnight, it could provide an opportunity for a quick turn."

Supports everything I've said...Small raising for the 10-15 million shortfall, Orbis in the driving seat, Fonda profits at around 2.5 million per quarter.