Ann: Trading Halt, page-38

With $23.6million in net debt at 31 Dec 2017 the worry will be that they’ll need to raise well over this figure or they will just end up tittering on the edge of low liquity with no credit line in place.

If they are intending to pay off all the debt they would need to raise at least $30 million to give themselves even a small margin of liquidity. You’d think less than $10 million in liquidity is still a very low level.

They might just end up raising a minimal amount in order to meet their debt schedule and maintain current levels of liquidity. ie a $10 to $15 million raise. I can’t see the market having appetite for a bigger raise than this.Esh