Well, maybe not straightaway - but that is surely the...

Well, maybe not straightaway - but that is surely the implication. You don't need an EGM to update the shareholders on progress (which is the only other stated business).

We normally get these "capital refresh" resolutions at the AGM, so the implication is that there is at least a risk a capital injection will be needed before then. Maybe it is just the company being prudent? I guess I should take comfort from the fact that the capital raising was oversubscribed - so at least it does look like they are solvent, and plenty of "sophisticated investors" willing to support!

Although at this rate of capital dilution, the recent broker valuations will be diluted by new share issues such that the true value will ultimately meet the current share price!

I just hope there is a heap of good news around the corner to balance this disappointment, and make this EGM resolution redundant.