I would think they will want to release some more bullish news...

I would think they will want to release some more bullish news before a cap raising at 85c - If they were to do that at the current SP I think one would be better off waiting for the selloff to fund distribution and you would get them around 80c again - I am certainly heavier on this one stock than I am completely comfortable with while the Iron Ore sector is going nuts.

85c is just a little too close to the current SP - look at what happened when MEE offered at 12c when trading at 12c - sold down to 10c and raising failed - then had to raise at 8c from institutions.

I reckon they'll wait for May/June doldrums to pass and hope for SP over $1 before attempting that.