Ann: Trading Halt, page-24

It will be interesting to see what kind of CR this is, and for how much.

The timing (after a drop but before any wash through recovery, so while the price is potentially at its lowest point in a cycle, and so close to Christmas, and before seismic results or PSA completion) suggests that it might not be for the full drilling amount?

But then on the other hand, they have a reasonable amount in the bank already so why not wait (if they’re confident in their deal with Cluff gaining traction, and confident in seismic) to have a chance of doing it at a higher price with less dilution later?

Given they’ve indicated there will be a SPP / rights issue to retail (which is slow and might take until late January - one of the reasons I don’t like them) it might be a now-or-never thing?

Or maybe they aren’t as confident in the seismic as hoped, so best to raise while you can especially if they’ve had offers come in?

Or maybe they’ve just had a too-good-to-ignore offer for a private placement?

Anyway, I’m thoroughly intrigued.

Edit: just saw the post above with potential details. Interesting… and confusing.