And from today's ANN...

And from today's ANN (http://hotcopper.com.au/threads/ann-capital-management-activities.2391068/#.VFF0ncnopXo):
"It is intended that the rights issue is undertaken immediately after the approval of the 100 for 1 share consolidation...."

There it is. Consolidation is a prerequisite for capital raising.
Unfortunately, it also reads like "consolidate so we can dilute".
But, with receivership the only other option I can see, we have no choice but to support this 100:1 consolidation.

I wonder how many will take up the offer.
The company must have assurances from some major shareholders already as I can't imagine many of the Mom & Pop holders reaching for their wallets again.

And I imagine the (potential) JV partner is waiting in the wings with a spoken or unspoken expectation from this CR.

All this IMHO. The only information I have is what I read in the ANNs. The rest is conjecture.