Ann: Annual Report to shareholders , page-15

Trouble is, if we all kick in more money in a recap, the chances are it will also be frittered away as the cash pile was with the UK acq/maint and now likely the WA acq.

If we recap, imo it has to be done pro-rata at a bargain basement price with juicy options. But there will be limited scope for capital at 3 to 3.5c via this method and the clock has been ticking noisily for many months, as per usual with this management team.

I don't hold much hope in their capital raising abilities. I and some mates were taken to the cleaners in GAU, which is why I expect they would be more likely to do another huge low priced dilution and kick some kittens to death rather than to a pro-rata low priced placement to exiting holders.