We are required to maintain a minimum 2 quarters funding per ASX rules. Per the Sept q Ann by the company, we were sitting at 2.3. We are midway thru the Dec q so will be well below that figure now. A CR between 3.5-4c post AGM is a Monty. It is now my belief this is why the AGM has been brought forward 2 weeks compared to last year. 28 days to complete the raise between now and end of year. The deal will already have been done.
Look for a 60-70 mill raise giving us 10bill Soi in round figures. 20/1 consolidation on meaningful trial data success to bring that back to 500mill. I am not in the industry tho, so what would I know……
IMU Price at posting:
4.8¢ Sentiment: None Disclosure: Held
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