With the 2m & .5m loans from Borman and Waddell a capital raising was always on the horizon, although Borman's 2m funds were set to roll into any capital raising, the details of Waddell's loan reads to me as if he wants all his money back.
There may be more in the capital raise accouncement that changes my mind, but I am a disappointed ORN has not given an update on how their finance activities are going to date. Anything to push against the end of financial year loss selling, to limit the dilution of a CR would have been welcomed.
They have had years to build relationships with all possible stakeholders - they are not starting from scratch.
They didn't even broadcast to the market that the SA Mines Minister and other VIP's were or had visited Prieska. If someone hadn't posted a copy to the local news video on here not many would have know about it - Errol would have most likely been talking to a you tube channel about the visit and talking up SA Govt support.
Good luck to all holders.
Add to My Watchlist
What is My Watchlist?
