just looking at the junior spec end of the market, watso noticed...

just looking at the junior spec end of the market, watso noticed that a company called "venus resources", who were trying to raise a bit under $500,000, had to abandon the idea, when the underwriter pulled out. looking at the last set of accounts, it is only a matter of time, before the next capital raising for gda will take place. come the end of september, there will not be much difference between current assets and current liabilities, which simply means a capital raising. the capital raising will be required before the company does any serious work on the iron ore tenements

it could be in the past, that someone has advanced funds to the company, but this would only be a short term option. the ideal situation would be to have an underwriter, to guarantee the funds. given that trying to raise $1/2m dollars might be a problem for vns, then gda might have problems raising a larger amount (at a reasonable price). the 20m shares that the company has been authorized to place, would only raise enough funds for a quarter - might be better than nothing

watso will watch this space with interest

oh - on the point of capital raising, and to see the position that watso is in, then look at rsg - they might not have enough capital to complete the syama development. of course, watso lives in hope.

it seems that the days of easy money are finnished - and so it should be