The placement was just enough (bare minimum) to keep them going for the moment and OLY will need more money soon (like about another $2-3m for working capital and to pay for the two Kalimantan plant purchases.) So am expecting some workover of a cashstrapped company shortly probably in the form of some merger with MAL and dumping some NT assets.
It will be interesting to see what the OLY directors do about preserving value for shareholders other than TTY as by my estimation only 2 out of the 5 directors are in any way independent.
Mind you corporate governance has never had a huge look in at OLY.
Good volume through today so it will be intersting to see which friendlies are appearing on the register, assuming they bother to tell the ASX.
The placement was just enough (bare minimum) to keep them going...
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