Ha ha, yes, a rights issue to raise c. US$30M discounted at this share price would fray a few retail nerves...
But... consider a scenario like:
1. c. 14 k.tonne forward sales to Sojitz.
2. ditto something similar TK and EGT.
3. RAP settled favourably.
4. Loan finance announced at favourable interest and a rights issue with 3 week (say) forward-dated record date. (Fully underwritten.)
5. In principle agreement with Sojitz to establish battery graphite facility in-country with 50:50 interest.
Pie in the sky? Or Little Jack Horner in the corner?
FWIW DYODD
Ann: Notice of Annual General Meeting/Proxy Form-KNL.AX, page-94
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