We will have to wait a bit longer, page-11

Thats the issue and why the PDS/IPO needs to be very convincing. we've had many cap raising in our long past where the money is eaten by fees and salaries. With this one we start behind the eight ball with all the listing fees and underwriting and legal fees to be recouped. Thats before any debt reduction. And before any money exchanges hands to vend in new project.

The asx made it harder to relist shells and it means there is more substance to the ipo when it gets the go ahead. Someone will make money from this eventually, probably Anthony, maybe Otsana.