If the CR is going to be $60M at 30 cents all that will do is enable some of the stage 2 expansion work to go ahead and the staff including Management to keep getting paid (which is always the directors main objective).
Clearly if they want to fix all the existing plant problems, get stage 2 up and running plus have enough capital for the POSCO deal they are going to need a lot more cash than $60M plus the POSCO cash and the outstanding undrawn debt that they have.
I suspect over the next twelve months there will have to be at least 2 and maybe 3 Capital Raising's to fully fund their plans.
Ann: Trading Halt, page-149
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Last
$2.89 |
Change
0.040(1.40%) |
Mkt cap ! $8.703B | |||
| Open | High | Low | Value | Volume |
| $2.78 | $2.89 | $2.78 | $29.90M | 10.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 39193 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 73947 | 7 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |