My concern is that, if the MRE announcement is imminent and price-enhancing, why raise ahead of it?
Malign explanations for this include the MRE announcement being still far off, and/or uninspiring.
However, there's another possibility. The ugly Eurodollar futures curve is discounting a significant chance that the huge, unregulated "collateralised collateralised collateral" offshore USD markets are teetering, with the potential for a systemic global credit crunch. If ASR are aware of this, they could be being quite prudent in raising now, even at a discount.
In short, once again I'm unable to decide whether it's worth persisting with this company. The decider for me will be this: who will prove correct, Setfiretothehive or Prof. Ken Collerson et al?
Waiting with abated (not "baited" - I don't eat rotten prawns) breath.
ASR Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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