Anglo walked from their JV project; another major has been watching, and has expressed interest in farming-in to Chitigua.
Not to worry, SUH still has three other JVs in play...
Capital raising now offers holders an opportunity to accumulate more shares at 0.045; with free attaching options.
The annoyance of a capital raising possibly capping the current price is arguably insignificant and nothing more than a short-term annoyance.
Raising is underwritten, and bolstered by a private placement to sophisticated and professional investors to the tune of $1.2 million.
Who wants to bet that although the capital raising is underwritten; there will not be a short-fall?
Other companies have similiar scenerios where a JV partner walks from a project, however this company's execution of managing the news was handled exceptionally well in my opinion.
I'll be taking-up my full entitlements under the Rights Issue; how about you?
In the meantime, I will be looking forward to future drilling results across all current JV projects.
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