XX You are right, a cap raise for the Nifty restart doesn't make sense. I come to this conclusion by reading and listening to the public statements by the Managing Director who is the best person to comment on this matter.
I do expect a cap raise to fund further exploration at Maroochydore and Nanadie Well which will be the focus once the Nifty Restart commences.
The next announcement will hopefully be securing the $200m of senior debt which will rerate the SP and anybody nervous about buying at these levels will be missing out on that rerate IMO
Keep in mind the SP of CYM closed at 16c the day of the Glencore announcement of a nonbinding prepayment which didn't go through. There is still a fair way to go before this binding $50m contract is priced into the CYM SP
gltah
CYM Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
