The big issue here is at what price CGU dispose of remaining shortfall and...can you believe it..another Rights issue.!
The market..is rightly sceptical for fear of further decline in share price at expense of further dilution.. In other words a market dump..at below existing share price.
I do not know the intricate details ..but it is hard to believe that Inca One had an old dis-used processing plant up an running within 3 mths after refurb..and yet Goldsmith has taken over 12mths....to even be close to start up.. with its junior partner being a signifigant financial casualty..!!!
Cheers
CGU Price at posting:
1.8¢ Sentiment: None Disclosure: Held