Ann: Dacian Equity Raising Presentation, page-23

DCN has just increased it's capacity to place an extra 10% of the capital base and people are shocked that they have just done a placement! The writing was on the wall! Out of the cash currently held, how much of that is restricted? I have been caught out and learnt the hard way in the past and even had a MD of a company I was invested in call me, advised that they had X amount of cash and then 2 weeks later do a capital raising. The difference between cash held and unrestricted cash could be a reason why an urgent capital raising was done. Not unusual to have $5M plus restricted for environmental levies etc. Will be in DCN's financial reports if anyone is keen to investigate.