We had capital raising last year when EIG came on board as a major shareholder to fast track upcoming projects. Was under the impression that there would not be another one, and that they were looking for whole of company financing. Also weren't they talking about getting rid of non core assets? This would free up cash.
Worse scenario EIG gets out of SXY altogether as they want all of STO . Disaster. We will know next week I suppose. And why does it take so many months to organise finance?
This is the dilemma at the moment and share price going nowhere and not responding at all to DOW and Oil up.
SXY Price at posting:
42.5¢ Sentiment: None Disclosure: Held