They struggled with the last raise and it ended up undersubscibed for memory.
You are right BB. They would not be able to raise on reasonable terms currently.
Fortunately for the company they have significant funds in the bank as they will not be starting construction.
If they are careful with funds they will be able to carry on exploration for quite a while.
You are also right in that investors in those raises would have a bad taste in their mouth. I am sure the company would like to see all those options exercised. It would put over 7m AUD in the bank. As it stands with the phosphate project on hold Aguia would have to show some excellent exploration results to get the 10c and 18c options in the money.
As for an extension of the options expiry, that would demonstrate goodwill on behalf of the company and increase the chances of getting funds from the options being exercised. As to how practical that is or how it would work I dont know.
Ann: Update on Legal Proceedings - Filing of Defence, page-8
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