The market will expect a capital raising and subsequent further dilution . I would expect that the recent Ansteel loans will be converted into shares also.
If the SP stays at 12 cents expect a raising at 10 cents , perhaps $50m which will mean a dilution of approx 30%.I would the concern on capital raising could drive the SP even lower.
Happy i took my medicine at 14.5 cents.
Ann: Karara Operations Update , page-21
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