It would seem the book build/cash placing must be going slowly, 4 days gone and no news, some companies can raise £100m+ within hours so it puts in context the apparant inability to raise £4m-£10m
All of a sudden on the AIM market share prices have turned down materially without explanation, resource juniors have had a woeful time since the start of this year. It has caught many people off-guard.
To make matters worse one of the UK's largest stockbrokers, Beaufort Securities, has been shut down by the authorities due to insolvency and is also pending an FBI investigation regarding alleged share price manipulation, over £800m of client funds are currently locked up, this has not helped CAS for sure.
You could argue this company is cursed, to make matters worse the buyer of the Iron Ore project has defaulted on payment and no news, as promised, since. Who knows whether Crusader will get their cash.
My bet is they will probably get the lower end of the cash raise away but as every day goes by without news even that comes into doubt. Worth remembering that Stratex are owed £1m by CAS and this loan is secured, most likely on Crusaders assets.
Will be very interested to see the outcome of the cash raise, I think the 24th is the cut off date.
