If PM's answer to the cap raising question at the Proactive Investors seminar was "yes", don't you think he would have broken the ASX rule on public announcements and disclosure? That would have benefited those who were present but not the rest of the market.
I think PM could not have answered "yes" even if he wanted to. Cash balance is not great ($5m?), so cap raising (or debt raising) was always on the cards, sooner or later.
NWE Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held