Yep, $5.5m won't fix their problems, so $55m it is....

Yep, $5.5m won't fix their problems, so $55m it is.

Ignoring whether it can even be done what would Armour look like after the raise?

Market Cap. ~$69m
Essentially debt free
Surat increased pricing and volume
MOG and Victorian projects in hand

Armour are saying they already have "significant cornerstone investor commitments" and the raise will be fully underwritten. Whoever is putting that money in must see a path forward.

Reminds me of that old adage, "better 20% of something than 100% of nothing"