Ann: Trading Halt, page-162

Morning all.
where are those talking about a 1:2.6 rights issue, seeing that?
short statement in the release says nothing.
unusual for juniors to have rights issues and/or SPP’s; they’re a pain for the company.
it’s a lot easier to do it with the brokers and their sophisticated investor groups if they can. Quicker and easier.

don’t get me wrong, if we have to raise as seems we do, then I’d love a rights issue. Take it up and no dilution. But I suspect the more normal private raising where we don’t get a look in.
for our sake, I do hope we see the usual pull back to/below issue price. We can then load up with enough, so we don’t suffer a dilution.
I’m not so sure we’ll see that pull back. CR’s for net positive outcomes as this will be, can sometimes actually increase SP. not that it means anything, but the indicative open was showing as 19.5 on the close yesterday. That will change when the full announcement is made before open.

as I said earlier, this is a disappointing announcement, in that it suggests the offtake deal isn’t done/near. If it was, they’d Ann that, SP shoot up, then raise at a higher price. unless they want to keep sweet with the brokers/sophisticated investors and announce the offtake soon after. I’d be really pissed off if they do that.
management seem like a class act. So let’s hope not.

have a great weekend all. Nice sunny day here on the coast and the cats won.
cheers,
ned.