Ann: Karara Operations Update , page-33

reddwarf,
i was being positive when i used a SP of 12 cents and 10 cents raising.
As for Ansteel ,very dangerous to expect that they would be willing to pay much more. Why ?? they have no issue if GBG dilutes further , they will maintain their share %.The recent loan with a 12 months option for GBG has a share placement at 22 cents when SP was approx 18 cents.Very different situation now , immediate cash may be required with a share allocation , as there would be little expectation of repayment in 12 months.
If $50m needed that is approx 25% of current market capitilization , at 12 cents and would be closer to 30% if priced at 10 cents. Significant dilution.