I think you are on the money Hardrush, I'd bet on a 100 to 1 consolidation to bring the shares issued down to circa 100M and a name change would be in the works also I'd say.
Half a chance punters could buy back in at 70% or so of the current SP after the consolidation, well its possible after doing some rough calculations.
All depends how good this 180 capital raising group is and how the near term deals play out.
Half a chance PW will be shown the door now he has converted accruals to equity. Well let's face it, could not get rid of him without the money to pay him out, instant insolvency not being able to pay entitlements and so on with changes at the end of this calendar year IMO. Changes in staff needed too clear a path to bring in coal based experience and management in the door, anyway nice excuse, sorry Pete, bye bye.
Thanks for everything Pete, good luck for the future.
Many variations and variables of course, but this my two bob's worth.
Not financial advice, but if you were thinking of averaging down or buying in, I'd be more inclined to wait until after any potential consolidation and certainly after the three months is up advised by the BOD require to back fill the failed CR of circa $1.8M or more. (for holders, lets hope it does not take all of the 3 months to raise this small amount of capital).
There is a potential turn around here, but IMO high risk at the moment of any value short term, come back after the financial position and capability of the company has improved and its massive debt has been addressed IMO.
DYOR
Cheers BJ
ANW Price at posting:
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