It will be interesting to see whether the 20 million shares sold short cover their positions as part of the $7m insto placement (about $4m) or whether they stay short?
If they do cover it probably reads like they could only muster about $3m in new equity and the balance had to be done to the poor shareholders.
I wonder what the shortfall from the rights issue will like?
Ann: Neometals Launches Placement and Entitlement Offer, page-12
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