The CETO acquisition announcement says that CNM wont take over...

The CETO acquisition announcement says that CNM wont take over the development costs until the deal goes through. Ottaviano has previously said that they had enough money to see out the year. But perhaps all their site investigations are chewing up more money than they expect. i have to say i always thought it was a bit optimistic to think they wouldnt need more money give the number of countries/sites they are looking at.

I'm hopeful that it's just a $2mill or so top up like they did last year, to help with the investigations. I'd see that as a positive.

Alternatively, I'm also holding on to the vain hope that the word "initiative" in relation to the fund raising might actually mean something - that the raising that has a real strategic purpose that will be outlined in addion to the raising - perhpas in relation to a particular country.

But that recent May Investor Presentation, and the fact they've updated their website (there are always a few improvements to the website prior to a raising) makes me worried they may just be after a bit more cash than i hope. Also, when did any good come from an announcement hidden at 7pm on a Friday!