The wording of the press release has been bugging me..."a capital raising transaction which is material to the company." Specifically, it's the word material.
Material could be interpreted as follows, for example (a) the scale of the capital raising is material, which if successful and the pricing isn't too below current levels, would certainly provide the company with sufficient ammunition to continue its very promising drilling program; (b) the capital raising could be to an investor/group, news of which may be a "material" event.
As the press release speaks of a "transaction" rather than capital raising arrangements, it's got me wondering whether a strategic investor or asset sale is involved. Just playing with words. I guess we all find out soon enough anyway...
EKM Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
