Media report from yesterday - “Phoenix Gold is in a trading...

Media report from yesterday - “Phoenix Gold is in a trading halt, but is believed to be seeking to raise around $A4 million in a placement, plus an additional $1 million in a share purchase plan. It is understood that Patersons Securities has been appointed as lead manager."

Don’t understand why we need a cap raising now – at end of Q4 had +$6M in bank and said they would be cash positive in March quarter. Appears Blue Funnel didn’t produce cash, is Kintore West going the same way ?

GG