The quarterly may well indicate that a capital raising is necessary, but it also indicates that there has been a ramp up in the Investor presentations which are preparatory to it.
No doubt the DFS will be accompanied with an announcement of a capital raising. The two go hand in hand, and it should be no surprise to anyone when it happens.
As for the suggestion that the company is being primed for a fire sale to PAL, that would be contrary to the interests of the other major shareholders and seems unlikely to happen.
On balance we are better holding our shares and participating in the CR than flogging them at current prices.
KAS Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
