grr sp breakout imminent, page-8

capital raising is OUT-OF-THE-QUESTION
Do you really think they can finance Southdown without a capital raising.
They can not even run the current operation without a capital raising!!
We are talking about a $250 million market cap company to finance 70% of >$1,8 billion.
Reason for reverse takeover ABM was financing from cash flow South Down, however this scenario collapsed as there seemed to be more debts and increased production costs in combination with -48% pellet prices.
Speaking of Paterson report, have you noted 2011 is not profitable.
This is a very difficult business case with a lot of deception and frustration for old shareholders, hardly doubt this will get a happy and some day.