I'm with @mickeebee, it seems almost certain to me (and analysts...

I'm with @mickeebee, it seems almost certain to me (and analysts like RBC) that 29M will need to raise so they might as well get it over and done with to remove the uncertainty. This worked well for SFR when they were in a sticky situation. The figures in this last 29M quarterly report all but tell you they'll need more cash sooner or later. They had A$163M in March and ended June with A$127M, after fully drawing A$60M in debt - so all told, they burned A$96M in just 90 days (!). Capricorn isn't coming online anytime soon and the results at Golden Grove aren't pretty. The insurance will help when it finally comes (RBC are estimating a A$75M payout) but looks likely they'll need equity too, bearing in mind 29M are estimating restart costs of between A$87M to A$105M - the analysts are much higher on those cost estimates.

So long as that cloud hangs over the stock I'm unsure whether it will get bid up much - but hopefully as copper strengthens, they can ride the sentiment a bit to minimise the dilution.