Given today's closing price that is already looking like a shaky...

Given today's closing price that is already looking like a shaky strategy especially if they still need money to pay out CommBank $2.5mil at the end of this month.
It'll be interesting to see if Malaysia Smelting Corp is partially underwriting the $5mil issue - then it just becomes a clever tactic for them to increase their percentage ownership.
Again this issue should not be necessary given the fact that they should have positive cashflow of $8mil in the Sept quarter and surely they would be able to get CommBank to extend the loan to the end of Sept - if not then they need a new finance guy.
It'll be interesting to see what promotion work they do to get the issue away during the next four weeks.