Ann: Updated Corporate Presentation, page-5

So that recent raise was literally just a short term lifeline to give them a crack at this bigger raise.... as they are still after another $15m just to restart Mt Boppy..... and no mention of paying off the existing $29m debt? So in essence to derisk the restart and give the company a decent crack at survival they really need closer to $30-$35m which would also allow them to pay down/restructure the existing debt.
I like all the extra appendix detail in the preso but with a current market cap of only $28m this is a very tough sell to the market. It feels like a massively dilutive raise is coming (eg; 50-70% discount to price) or Manuka will end up the way of it's Cobar/Wonawinta predecessors (CCU and the next private company that Denis bought it off)..... good luck to holders.