Finally CAPITAL RAISING! According to AFR's Street Talk -...

Finally CAPITAL RAISING!
According to AFR's Street Talk -
"Contango is said to be planning a placement of about $4 million as it embarks on growth initiatives.
They are said to include several new exchange traded funds and recruiting a head of distribution and a team in that area. The size of the raising may also suggest that Contango is on the look out for acquisitions. "
No mention of the cash flow short fall? At current cash burn rate equates to $500,000 a quarter or $2 million bucks a year? Nor the skinny cash position on the balance sheet, after allowing for the $750k loan.
Come on, its more about repairing the balance sheet than growth and acqusitions?
There has been zero mention in the AFR that CGA got pinged by the ASX on its cash flow. Street Talk DYOR