My opinion....They have picked a new corporate adviser after the...

My opinion....

They have picked a new corporate adviser after the recent disaster that was the capital raise. Obviously they had tasked their corporate adviser to raise the funds and the result was a low ball offer which was not only dilutionary on existing shareholders but also not sufficient to see them through to production. The offer brought to them was also probably badly timed from the company point of view as they had no wriggle room to negotiate with anyone else for a better deal, plus being to close to the end of year.

Sure maybe they were always going to go again this year to top up but the funds raised were not large or even half way towards the target required.

No doubt they are now forced to into a partnership and management see UBS as getting a better result for all. Lets just hope they do! Current Management have shown they may not be up to the job to see this through and someone needs to take the blame.