What they should have done is taken a cornerstone investor and raised the rest via SPP. According to their statements, there was a lot of interest from Chinese investors prior but they decided to go the rights route..
Let’s see if these changes they refer to in the announcement, relate to that - a cornerstone investor coming on board and forking up the cash they didn’t raise.
With the Market Update part of the announcement I can only see a very positive update, if not, this is going to below 20c.
AU8 Price at posting:
53.0¢ Sentiment: Hold Disclosure: Held