I just revisted announcement dated 18 August:
"Under the terms of the Bridge Loan Agreement, Orion has agreed that it will use best endeavours to undertake a capital raising by 15 Dec 2017, to raise additional equity to progress the Preiska BFS and to continue its Sth African exploration programs. Orion has agreed that Tembo will be offered the opportunity to participate in the sub-underwriting of any rights issue on standard market terms and conditions."
So we cannot say this CR is a surprise. I guess question is how much will they raise and at what price? Last CR was 2.4cents.
Any ideas?
Ann: Trading Halt, page-4
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