A placing at this level is badThey have gone to the market for...

A placing at this level is bad
They have gone to the market for cash too many times IMHO

They really need to prove they have alternative sources of cash such as an asset sale
And then go to the market end of next year for a lump of cash if required.


So I hope this halt is they have arranged a banking facility, as did Cooper for $40m on the 2nd July.

http://hotcopper.com.au/announcements.asp?id=575918

Jacka could go to the same bank and get $3m, thats all they need.