Looks like a firesale to me, they are trying to sell the whole market cap of 2 million for a 2 million cap raise. It doesn't look like anyone wants the debt-ridden shell & the family doesn't look like tipping in to keep it alive. It looks like Madhu & Deano are scrambling around the place for money to keep it going $80,000 to drill Kat Gap - you have to be kidding !. They have shown no interest in Kat Gap for a long time.
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- Ann: Classic Undertakes Rights Issue and Prospectus
Ann: Classic Undertakes Rights Issue and Prospectus, page-21
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