Good to see the capital raising being offered to existing...

Good to see the capital raising being offered to existing shareholders with pre-commitments for half from existing substantial shareholders. A nice chance to average down before the main game gets underway.

It hardly comes as a surprise for the business to raise the funds, as they had less than an oil rag of cash on the balance sheet and genuinely have reined the spending in during this long drawn out process.

I like the fact the CEO and directors have agreed to a substantial cut in current remuneration and in the fees accrued, this should keep the auditor and shareholders happy. You rarely see this from a listed entity, most senior management & board will happily accept receiving shareholders money by way of fees to keep the status quo.

Looking forward to the next 4-6 weeks to see if SA can turn all of the positive / strong language into action!