re: Ann: Appendix 4D - Half Yearly Results - ... I've been getting those night time calls as well. I've had some SPPs in the past, but none of them (other companies) actually called me..
The SPP is not underwritten, is that the reasons for those phone calls?
"The proceeds raised from the placement and from this SPP will be used principally for working capital
over the coming months to FUND the ONGOING operations of the Company".
Does this mean that a failure to raise cash (via SPP) will result in trouble, i.e. difficulties in paying salaries, bank, phone bills, etc?
PS: cutting around 100 high paying employees (this is mining industry) out of 400. I am sure they need a lot of cash for retrenchment payments.
Ann: Appendix 4D - Half Yearly Results - 31 Decem, page-11
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