Last time we had a trading halt to raise funds it took the management exactly ONE month to announce and get back to trading.At that time they announced that the funds would complete the refurb, later announcements suggested that the refurb was coming in under estimates.
This latest fund raising must NOT include any funding for the refurb unless it is to expand the throughput of the mill.Latest estimates to increase throughput were $3-4mil, assuming, due to value of A$to the greenback that we need only $3mil to increase capacity to 700000t/a then the question is What do they need the money for?
It should also be noted that the Environmental Impact study was supposed to be submitted by the end of September.
SBL Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
