Ann: Company Presentation - UK & Europe Investor Briefing, page-7

They could not raise equity to our Euro major shareholders as they do not want any more.
Their % shareholding is full, unless takeover.
As far as the rest of world. Take a look, plenty of choices in risky areas for the project of this size.
Cap raising was done as a safety measure and concluded. Simple as that.
$40 mill. debt raising still OK unless our Euro friends and Franklin/Templeton want to loose a lot of money.
As far as roadshows it is just going to attract interest in debt offering. Plus, please major shareholders.