If this is correct and it's a CAP raise at 7 c then we will have to really trust managements decision on this. Unfortunately it will dilute the SP even further and the reality is unless there is something tangible to hold the SP up e.g outstanding results at Nomgon or H2 announcement then I fear that the SP will drop to the CAP raise price or even lower.
I understand the need for Capital but this will really hurt us at these levels. Neil said in an earlier interview that they didn't need a financial partner for Grandis so maybe the cash injection is for something else. I would have been happier to get some results back from Grandis first and then hopefully raise at a higher price thereby reducing dilution. Nothing is guareenteed of course. The board are smart people so will have to trust that this is in the best interests of the company going forward and the SH.
EXR Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held
