$1.1M was never going to get them very far...at the time I think they were probably going to use it as bridging finance until the Focus deal was struck.
They then would've had a further $7M deposited in the bank, with another $6M to come as a free carry on SC54A development. Not sure whether that would've seen them through til Tindalo flowed.
There was no trading halt called for the last raising...in that regard I think this one is likely to be a bit more signifacant in size...time for Southern Cross trawl their data base.
Seeing as it's been so quick (in regard to the last farm-out notice, and maybe other interested parties are now not), perhaps this is option B and had been primed ready just in case, especially before the sp can fall back any further.
More speculation for you Rawk!
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1 | 202835 | 0.064 |
1 | 237726 | 0.063 |
4 | 169682 | 0.060 |
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Price($) | Vol. | No. |
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0.072 | 100000 | 1 |
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