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Blumont proposed a rights issue of up to 861 million new shares...

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    250 Posts.
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    18/10/13
    11:55
    Post #: 12457138
    Blumont proposed a rights issue of up to 861 million new shares at S$0.05 each.

    This would also generate approx $40m. Funding will be provided to get into production by offtake partners. Plus current cash.

    So its quite possible that Blumont can provide a revised offer that would be acceptable to all shareholders.

    Peter Lynch is presenting at the Brisbane Resource conference next Thursday so hopefully some news and update will be provided.
    CKA Price at posting: 19.0¢ Sentiment: ST Buy Disclosure: Held
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