re: Ann: Agbaja Iron Ore Exploration Project ... Energio Limited...

re: Ann: Agbaja Iron Ore Exploration Project ...
Energio Limited expects to receive further drilling results toward the end of November which will be followed by regular updates through to the end of the program.

If they are to raise capital at 20c capital, they need the share price trading at at least around 25-26c, to entice the sophs to put money into it. Currently trading at 18c on post consol basis. Expected date of news on drilling results just coincides with the date on which capital raising needs to be conducted.