thoughts on cap raising

Like most wdr holders and posters I am also taken aback by cr when recent co. statements say otherwise. However if shipping volumes/sales are not as they foreshadowed in December, then it's little surprise they need more $ cap.

Have a good look at the dec quarterly rpt, only $20m in cash with forecast $60m in outflows, not accounting for revenues it would seem.

My bet is a 1:5 rights to raise $55m, hopefully to reduce borrowings in part and provide extra cash to run out the wet season.

I will participate in the raising, subject to seeing of course what the company says, details of the raising etc. Still not moved to lose faith in this company, they have done so well to date.

Other thoughts on this are welcomed. Keep up spirits, remember the market does not always behave as you think!