Perhaps I'm just trying to convince myself, but my take is as follows:
> $12m insto money is no small amount, particularly given time of year
> discount small - if they were just trying to shore up cash balances, would be smaller raise at bigger discount
> Petra are a good house, I doubt they are flapping in the breeze hoping that they can raise the money - it's done
> SPP is small and simply trying to appease the retail punters
Given legals, I doubt that a new deal has already been inked. Given the above, I also doubt that it is far away.
Of course the Term Sheet will be suitably general. What else will the money be used for other than "working capital"? That's what AJX needs to ramp up production, not additional capex.
I've been in this stock for a long time. Am well aware of the communications "excesses" of the past. It just doesn't feel like that this time.
AJX Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
