you might be right mate. I made contact again the other day (Wednesday or Tuesday afternoon?) and still nothing even firm about how much. Normally when there is a cap raise due the corporate broker will start to feel out the same sort of soft targets who slavishly just tip money down the drain on these type of stocks. They won't ever disclose how much the price will be nor the exact terms etc but just ask if you're interested in continuing support etc and how much to pencil you in for. As a general rule, those sort of conversations happen around a quarterly etc where it's pretty obvious that cash is needed. Normally speaking, if something big and a bit unexpected pops up and the share price hammers along you find out about the raise when everyone else does, after the halt. So far we have had the inevitable conversations around needing cash all the way back in April/May and nothing concrete has happened. Now we have had a management change, a share price rally and still nothing firm as to when, how much and what price....
I think that maybe it's as you say, damage is done so just wait till the final ball to see if you get a win. Perhaps someone has committed short term financing and that will get paid back in the raise? I would imagine that would have to be announced? I know Altor run a private credit business and they are heavily invested here so would kind of make sense? If they have taken on a short term finance option then maybe Keith really does have a significant deal just waiting to drop... maybe Keith's big deal is sufficient to steady the ship and power us out on the last ball? all a bit in the air... The share price is holding up so maybe there is enough belief that something good is just around the corner... if we clear the cash hurdle and get a deal out then the price should get back over 10c which would be a nice start to the new FY.
I like all the twists and turns of HMD! such a fun little stock with a merry bunch of posters!!
HMD Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
