Good post mostlyright. I'm inclined to think something is happening behind the scenes also due to the points you raised (low liquidity, lack of momentum above 30c despite very positive PEA report etc).
They won't need to raise for a while given that drilling won't commence prior to June.....but if they intend to it would be good to do it sooner rather than later to get this 'issue' settled. As to whether it will be at a discount - wouldn't want to see a discounted raising. Not a lot of stock on offer so would be hard to obtain a sizeable parcel without paying up, so large discount would be disappointing.
Small cap market is struggling but expected slightly more from JAL at this stage. Would like to see Dunlevy permits ASAP too - this has dragged considerably.
Regards
Doyle
JAL Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
