Interesting comment freespins.
I had initially thought this to be a "future" capital raising, which current shareholders would be asked to buy into, but now I am not so sure.
The words of the announcement, as you rightly say, stipulate the "outome of a capital raising"...
I decided to check other recent trading halt announcements due to capital raising activity for their wording:
31-Jan Apex Minerals - "... in relation to a proposed capital raising"
1-Feb Mobile Embrace Ltd - "...in relation to a proposed capital raising"
9-Feb Straits Resources - "...in relation to a proposed capital raising"
10-Feb Otis Energy - "... in relation to a proposed capital raising"
In other instances where the word "proposed" was not evident, examples:
1-Feb CTP
1-Feb Intec Ltd
2-Feb Stellar Resources
2-Feb Covergent Minerals
- the outcome has been that a placement of shares has already been agreed and made to sophisticated investors [new or existing].
I then started to think about the last e-mail I received from CEO, John Phillips on the subject of financing, where he wrote:
"Obviously, and as you would expect, funding is always "top of mind" for the Board. All options are reviewed in formulating funding strategy, and existing as well as new shareholders are always considered."
So, maybe I am thinking too deeply (or not deeply enough), but perhaps the funds have indeed already been secured and a new investor has entered the fray.
I guess all will be revealed on the 15th, but maybe a positive outcome lies ahead.
Good luck to all holders.
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