Capital raising, page-3

I would have thought they would have timed it with the half year results announcement.

Agree on your point about the decreasing share price. Maybe they started sounding investors out which has led to the rapid decline over the past few weeks???

I think they can muddle through without a cap raise and survive without a cap raise (so long as they retain Middlemount and Nammuldi) but it will be a hard slog just paying off the debt. Can't see how they expect to win new work with such a debt load and a market cap of circa $23m.

My preference is they just try and sell up. For someone with a better BS you'd think this is worth more than a current enterprise value of around $130m...