I would hope it is less than $20m.
The raising would need to be on favourable terms for shareholders I would think. There are bugger all shares on issue, and if anyone wanted to acquire a large holding in SXA, they could not do it on market. If we are in talks for a raising, i would hope that it is not at any discount to current pricing!
We should be close to news out of the Burkett test, surely?
Swabbing was due to test the well for 10 - 14 days from 22 May, then...?
SXA Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held