If the management were aggressive with their cost costing cutting a while back, along with Government assistance and improving iron ore prices currently the clowns may not need a capital raising.
The board act like a group who are thinking they may not get a gig anywhere else once this circus is finished, if true it's about the only thinking they've got correct the last couple of years.
Their advisers must sit back and laugh while counting their cash at the stupidity of the board and the position the clowns have gotten themselves and the company into.
Of course if it rallies back to the last capital raising of 48c then all will be forgiven and they'll be corporate geniuses in my mind. At that point I'll put the scotch away and grab the champagne..
If the management were aggressive with their cost costing...
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