This cap raising attempt seems to me to be an existential fork...

This cap raising attempt seems to me to be an existential fork in the road for Critical Minerals. The company garners very little interest on the market and on hc so their sternest threat is probably apathy. Listening to the money of mines blokes talking last night to a fundie and it is clear that equity raising by junior mining companies has been almost impossible in the last 12 to 18 months.

For this cap raise pitch to end up any where near successful I think it would require the company's major shareholder, Idemitsu, to fully participate in line with their 32% hold of the share register. In light of Idemitsu's recent decision to start manufacturing vanadium batteries in Townsville I certainly hope that they would contribute at the full rate, particularly given that at most it would be only loose change for them. Not sure about the other 68% though, maybe the company and Idemitsu can entice new institutional investors on the expectation that CMG will start sending vanadium product to Townsville. Hopefully they got some decent bites out of yesterday's presentation.

Anyway, good luck to Alan Broome and Scott Winter in twisting enough arms in the next few days.