Discovery Metals today advises the market that it has agreed...

Discovery Metals today advises the market that it has agreed with Sedgman that it is no longer required to complete a capital raising for a minimum of A$15 million by 30 September 2014. DML will continue to repay Sedgman in accordance with the previously announced repayment schedule.

The fact that Standard bank has stopped capital raising is positive, no recievership.

Debt with sedgeman goes back to construction, good idea to clear it over time.

These are hardest of times, price of copper is doing us no favours.

I thought we had $4.5m at end of financial year, a small buffer to keep cash flow positive.

Any attempt to raise cash in this environment will fail.