News: CYY Coventry Resources seeks trading halt, page-26

This is pretty much an RTO, only they used the comparisons of the projects to bypass chapters 1 & 2. Smart thinking.

Not surprised the $10M is coming from overseas, because there'd be a very low chance raising that much here in Australia. Still not 100% the full $10M will be raised to be honest, given current macro conditions globally.

Old holders getting crunched 1:5. Let's hope the current major holders are given an opportunity to take part in the raise to average down, or we may see bulk of the 92M shares being dumped in a hurry once this relists.