AS1 0.00% 0.8¢ asara resources limited

Well, announcement and reopen tomorrow. If it's a $3.5m raise at...

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    Well, announcement and reopen tomorrow.  If it's a $3.5m raise at 4c -- and I have no reason to distrust @contraindicator -- the fully diluted share price is 3.2c.

    If it is purely working capital and not for a specific transaction of equivalent value I will be seriously disappointed.

    But I would be enormously surprised too.  The timing of this raise makes absolutely no sense for working capital.  It won't take $4.5 million (counting in start-of-quarter funds) to finish the drilling and publish a main JORC resource.  If it's just working capital we need then we could top up and, publish our (hopefully) huge resource, let the share price re-rate up several notches, and then raise development capital.

    Something's afoot...
 
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