Cap raise best outcome, although would be highly dilutive to SH.
Administration would be second last resort if SBM could not raise the funds/enough funds.
Have a look at how WMC played out, they raised ~$63M in a cap raise and then went into administration 5 weeks later. Debt was only $50M.
I know the circumstances are little different, but you have a business that's losing money and potentially unable to pay its debts as and when. There is only one word - "risk" and one action - "mitigate". Everything else is just noise.
Ann: SLR:SLR Ready to Rapidly Progress Revised Leonora Proposal, page-26
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Last
27.0¢ |
Change
-0.005(1.82%) |
Mkt cap ! $220.8M | |||
| Open | High | Low | Value | Volume |
| 27.5¢ | 28.0¢ | 27.0¢ | $806.3K | 2.960M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 78558 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 135412 | 5 |
View Market Depth
| Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
27.3¢ |
Change
-0.005 ( 1.30 %) |
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| Open | High | Low | Volume | ||
| 27.5¢ | 28.0¢ | 27.0¢ | 1863739 | ||
| Last updated 15.59pm 14/05/2024 ? | |||||
| SBM (ASX) Chart |