I would wait until tomorow's announcement, assuming they announce tomorrow before passing judgement. Firstly I'm anticipating the placement will be done at higher than the current share price. Secondly given they have an estimated $18M in cash, $10M undrawn and simliar in bonding guarantees why would they be raising cash ? It does not make sense that they would be raising cash for the sake of it - they don't operate like that. That leaves two scenarios. One - a company or government agency has asked them to bulk up assets before the issuance of a large contract OR Two - The SI investor has an association or is the go between in securing a major contract. That's all I can think of. Anyone got any other scenarios ?
TPP Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held