G'day towie. If they increase drilling activity after Heron in Block 20, they're going to need funds to pay their way. Success there and they'll need even more funds.
Having said that, they cancelled the last placement in May because they felt that a capital raising when the shareprice was over 30c would be too dilutive to existing shareholders. Now the price is 20c, so you would have to think this trading halt doesn't lend to a capital raising.
Cheers,
Butcherano.
back to 20c, page-6
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