Sudden cap raises are never a good look.
It really casts into doubt the company's recent narrative. The whole point was that they could get to 100koz/yr gold with only minor upgrades to the current plant.
Either they desperately need the money or they have decided to change the business plan and expand more aggressively. Maybe there are other possibilities for why they need the money, I'd like to hear suggestions.
It's not a good look. I'd (luckily) sold a little while ago just as ABU has breaking support, even though a little voice was saying hold on because there should be good news flow. The risk now is that the price will drift below the raising, as it does so often.
Not even a trading halt. I'm perversely impressed.
ann secures 19.6 mill strategic investment, page-24
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