2. Proposed Commitments Expenditure on development and exploration activities in the March 2011 quarter will be subject to successful completion of a capital raising. The Company intends to complete a capital raising which will include an opportunity for participation by existing shareholders by way of a rights issue or a share purchase plan. In addition the Company continues to evaluate the potential for disposal of non-core coal tenements. Proposed capital commitments for the next quarter are focused on overseas business development, in particular in the United States of America. In addition, committment will relate to the ongoing exploration committments on the tenement portfolio held in Australia.
So if you know it is coming in March, why are people unhappy? I thought one of the reason speculated for the SP still around this level is because of the upcoming CR?
Just wait and see what the price is raised first. Could be for better, and of course could be for worse...
CGV Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
