ANZ As we discussed yesterday, the requirement to amend the resolutions now seems to be on Albers agenda, imo Too much shareholder uncertainty otherwise.
If they secure an underwriter (Pattersons ?) then expect a hefty discount. Sometimes Albers underwrites his own CR's through one of his subsidiaries but this CR is a bit big for that.
Making the Artemis acquisition unconditional wouldn't hurt either. Albers wants $22.4mil from us and in this market he's going to have to give a bit.
Cutting it all a bit fine timing-wise given Braveheart will spud in December. Albers just had a RI and placement for BAS and that took around 5 weeks. It was underwritten by Pattersons...
MOG Price at posting:
19.8¢ Sentiment: None Disclosure: Held