Ann: Entitlement Offer Closed, page-5

It is a disastrous outcome for everyone.

They should sack Hartleys if it was them who gave TRT the advice to do a 1 for 2 rights.  It was the wrong capital raising strategy and the amount being raised was too high for a stock that had limited interest in the market.

They will struggle to find buyers at 8c for the quantum of shares involved - they may end up having to issue them at a lower price and lower the number issued. But if it was me Hartleys would not get a second chance.

TRT should just focus on Mt Hardy and drop all other projects to the back burner to conserve cash.

Will be interesting to see the cash position in the Quarterly about to be issued.

Gosouth