Ann: Catalpa Launches Equity Capital Raising , page-6

I like CAH and have owned it previously but a CR that dilutes existing shareholders always leaves a sour taste.

CAH are processing low grade ore at Edna May at the moment which is leading to high cash costs and I think they are concerned about cashflow over the next 12 months.

Once you get past these headwinds over the next 6 months the promising higher grade underground mining at Edna May where they have high processing capacity is very promising and long term this still looks good - the hedging has been a huge benefit.

Good luck to holders