judgement day, page-25

"Monitor has applied to the ASX to have its shares reinstated for trading on ASX, which it expects to occur shortly."

So, you'd think waiting on ASX. Although 'David Tasker' seems to think MHL will issue clarification first.

The negatives that you would take out of the "cryptic" announcement are:

"Under the terms of the Mandate, Renaissance will act as book runner and lead manager in the proposed offering of securities by the Company to raise up to AUD$90 million (at AUD$0.05 per share) (?Capital Raising?). Funds raised pursuant to the Capital Raising will be used in part to fund the acquisition of the interest in SOCA and also to provide working capital to develop those assets together with the Company?s existing project portfolio.
Marketing of the Capital Raising has been underway throughout North America and Europe in recent months with significant investor interest being expressed."

So its "up to US$90mil", could be less. No mention of underwriting. And only "significant interest' at this stage.

No guarantee of success here or full 90%

Also what placement fees are their? Possible that the 0.5c is really much less when the fee is deducted.

The positive is the premium, and any new is good news at this stage.