trading halt for cap raising, page-12

WOW.

According to Street Talk.

$150m (!) equity raising
$200m in fresh debt from an Australian Big 4 bank

Use to ramp up production to 3.5m tonnes AND

BUY Blackwood Corporation (which is in trading halt)???????

What da...?do they have an adjoining tenenment to Baralaba that can use to expand production? Some synergies perhaps?

Unless its a scrip bid Ill wait till management provide rationale but do we have the capital to be buying?

$150m equity raising must be a big insto placement- my money has to be on SK given they have been extending the loan guarantee, hopefully at a premium.

Glimmer of hope for holders but what is the dilution going to be? $150m is triple our market cap but if its to a big insto in a block placement at a premium the SP might be getting out of these levels pretty soon given Mr Market will be focusing on 3.5mt production being secured.