Ann: Trading Halt, page-7

Trading halt for a cap raise, not surprising at all, we all knew it was coming just because of the amount spent on drilling and seismic surveys this year.

Doing a cap raise up near market highs is the best place to do it for existing holders. With the last cap raise in 2019 at 23c, I was one of the very few that took up the SPP as the share price was several cents below the cap raise price, I'll do it again because the company only operates if it can raise capital.

Because the last cap raise was so poorly supported by retail holders, I wouldn't be surprised if retail only gets a pittance of the offer, and lots of people complain about the discount given to instos and sophs.

My preference would be a rights offer, but raising via sophs and instos, then a small SPP is so much easier and a lot less paper work.
It will be interesting how big this raise will be, as it has to cover some drilling of SE, hopefully later this year.

Any guesses for how much and what price??
I'll start with $40m at 32c/sh, with the SPP only $5m of that...

Onwards and upwards, after digestion of the new cap raise...