Ann: Investor Presentation, page-7

The half yearly report said that $55m CR was imminent. So I think your right @Stoneology another raise will follow this one.

The majority of this raise us really just an opportunity to rollover/paydown debt.

Of the $12m raised at a 33% discount to current SP only $7.4 will flow through to Armour.

The cost of that raise in terms of dilution is pretty amazing.

I really like Armours portfolio but its hard to see past all the debt and raisings.

Is there a point, perhaps after the next raise, where Armour can pivot from CR's and start to focus on farm ins as a way of releasing capital? ( I'm assuming that the MOG demerger is off the table)