The last cap raise was less than a year ago and likely did not raise as much they wanted. The priority offer raising only 600k, the general offer raising 3.5 million and closed early. The 600k was disappointing. Given the new hires and engaging Fluor etc the costs must have gone up somewhat.
They knew they would be running low given they already unloaded the remaining EME holding a few months ago. Something they've held for years.
Good news, if any, cannot come soon enough.
JLL Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
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