"The Company is advanced in negotiations with established providers of capital that it is expected will satisfy the near-term needs of the business. These needs include the funds required to implement the proposed business transformation initiatives arising from the strategic review."
More capital raising coming up - and only for the 'near-term needs'! Instos or sophs would be looking for a big discount, that's for sure. I expect they'd really like to raise $100M but they'd have to offer their pals shares at 50c to get that much wouldn't they? Even allowing for pandemic and economic downturn this has to be slated home to poor management. Every producing business has to be based on income supporting the structure sooner rather than later and unfortunately so far that's never happened here. Let's hope their Review will lead to a marked improvement.
EOS Price at posting:
91.0¢ Sentiment: None Disclosure: Held
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