These guys need a CR and the current share price would indicate...

These guys need a CR and the current share price would indicate somewhere in the 3c range. They may need to strap on some sort of option to get it away for all we know. How much money will they need? The last placement was around $2.5m and that went under 6 months. If they do an attached option, the price will go lower as people sell the stock and keep the option. I dont know if they will do that and only time will tell.
The other issue is volume. This does not have a enough volume to play that game. I would hope the management are able to get it away without the option and keep the focus on the head stock but that will come down to how successful they are at getting a deal done with a broker. This is likely to be an SPP anyway. They must only have days or weeks of money left given they had $565k left over 6 weeks ago. dyor with this one.