I note ARH's words at the bottom of the release regarding Prof....

I note ARH's words at the bottom of the release regarding Prof. Clive's $3m lifeline.

"In the event that Australasian receives proceeds from a capital raising or disposal of assets, such proceeds must be applied to the repayment of the facility."

I would be leaning towards an asset sale of something non-core, particularly given Prof. Clive, did not like the prospect of dilution from a capital raising.

But I also read this excerpt from the december 2010 accounts.........

"The Group is currently in discussions with a number of investment banks and brokers, and is in the process of mandating one party, whilst also discussing terms and conditions with a further two parties, to seek to raise up to $20 million of capital to fund the short term needs of the Group;"

Even if a capital raising was undertaken given only a $20m size the dilution to share price would be minimal (in my opinion), subject to the size of the discount of the issue.

Any thoughts fellow holders?