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Ann: Becoming a substantial holder from IFL, page-63

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869 Posts.

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15/05/18

11:17

Post #: 33100012
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Originally posted by DalyWaters ↑

You would expect the pressure is on to purchase another business at the moment.

The previous capital raising was expended on the purchase of Paris Creek, pay down of debt and "adminstrative costs". In other words, keeping the directors fed for a while.

The income is minimal as Maggie Beer struggles to break even and Paris Creek runs on small profits.

Another business needs to be got so that another capital raising can be conducted to pay for the business and cover the next year of "administrative costs".

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I believe there is going to be a share placement soon to sophisticated investors.
This could be .40-.55 c .it will raise up to 40 million which is required to achieve the goals set out in announcements .
I don't think it will be a share offer but a placement , this would be the preferred way , least effect on company. DYOR. Just my opinion .

LON Price at posting: 71.5¢ Sentiment: Buy Disclosure: Held
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