They've been raising near the maximum amounts under ASX rules each with a few extraordinary AGM's to vote and reset to allow more raises for the past 12 months. The real underlying issue is they probably can't afford to undertake what they've been doing with the size of the Market Cap, in Africa alone, and really do need a partner. I'm probably out if the don't secure a partner after the next flow test
Ann: Invictus Energy Entitlement Rights Offer Opens, page-262
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Mkt cap ! $110.5M | |||
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