I think that the lingering feeling that a CR is coming is really holding this down.
The recent commentary by RFC Ambrian seems to suggest they are on the lookout for some big money investors in the UK rather than tapping the retail shareholders at this stage. This is how the majority of the funds were received from the previous capital raising where institutional investors committed $1.2 million before the company offered a piece of the pie to the little guys.
There is a lot of mention about the acquisition of a sales channel in the international markets and continual focus seemingly in the water industry in the UK and Europe which in my opinion would be the reason a capital raising is announced, I suspect there would be minimal take up unless something like the acquisition of a water/environmental services company in the UK/ Europe was announced after all of the recent commentary by the company.
Still I am expecting an announcement any day about the further “near term” opportunities in Middle East, Europe and USA after the UK opportunity mentioned in the same list was announced as the Thames contract.
EVS Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
