Agreed Graham. DD must be a given for a placement to occur.
RYG can't issue a placement exceeding 15% of capital without shareholder approval. There are however a few conditions to this ruling.
15% of 640M = 96M @ .025c would raise approx $2.4M
I think the placement will be done at a discount to the current price, which kinda sucks because in most situations the SP dips down to the placement price. Hopefully the addition of a cornerstone investor might provide confidence and boost the SP instead.
Fingers crossed
RYG Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
