yes I got feedback from one broker. It does look like a deal is...

yes I got feedback from one broker. It does look like a deal is imminent. There is a thought that they may go for another raising prior to the announcement (bad) or announce a deal first and then do another raise (more sensible).

My spin on it is that the share price is suppressed because all holders have experienced is tinkering around the edges, years of waiting and dilutionary issues to pay for director fees.

So this is why such a tantalisingly attractive NPV project is within a $13m MC company with @$1.6m in the bank.

It should be a no brainer to negotiate a deal and then raise capital on the inflated share price, but directors have found it hard to get equity participation recently, so may be concerned about promising equity participation in a deal only to lack the ability to raise it.

while being one of those burned by an earlier issue, there is a big difference if a deal is done first. On the numbers, they should have no great difficulty raising the equivalent of the MC. You would think on the news the share price should recover to say 5c, which would allow for up to a 1:1 issue to get away.

I’ve continued to soak up the odd line on the back foot and will see how it plays out in coming weeks.