Ann: Oversubscribed placement raises $20.9m, page-35

Not overly familiar with this company, however reading a few things which posters have provided, am coming from a different angle towards possible contracts. The tenders may indicate that the company bidding may have to show a financial position as part of their financial bid, hence the quick raise in order to satisfy the bidding or management may have managed any risk of having to raise a performance bond and the starting costs of the projects. As many will know it takes a lot of capital for contractors at the project initiation stage, which usually means they are in the red (by a lot) before meeting payment milestones and getting in the green.

Not saying they did it right, but then again they may have had a valid reason as to why the quick execution of the Cap Raise. I'll be watching this one for now, see what the market does before dipping my toes in, but would be a decent long term hold as I see once they get a few large contracts then the repeat business with follow.