Speculating on the mode of cap raising, needing up to around $50m, EAR has continually stated that debt funding is their focus. However, I suspect that it will be a combination of debt, placement and rights. Say half is debt, and the rest (some $25M) in issue of new shares. Of that, maybe $10M placement and the rest ($15M) in rights to shareholders.
If I am close to the mark (but maybe way out) then I expect 1:5 rights at say 15 cents. Resulting in shares on issue rising to around 700M, including placement
Other holders wish to speculate on this?
Ann: Yandal Gold Project - Bankable Feasibility Study, page-37
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