Whatever the reasons are for the current SP increase, there will be no cap raise prior to the mezzanine debt being finalised.
As the company has clearly stated:
Any decision on equity participation will come after mezzanine debt is finalised.
As Fab stated we are funded up until the end of June, by which time the final debt and equity package should be in place.
Any CR placement greater than the 15% annual placement capacity would require another general meeting to approve.
The maximum a 15% placement could raise at 12.5c is approx AUD10.7M. Not enough to do anything major so I can't see it happening.
Imo some time after the mezzanine debt is finalised and stage 1 construction is well under way, we will get a 'Notice of General Meeting' that details the preferred full equity package.
I predict this will be sometime in April.
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