Unfortunately if they had achieved funding already then I do believe that they would have announced it. In fact under the continuous disclosure rules I'm sure for such an initiative they would have to.
I also hope that they are close to announcing something - and something without excessive dilution. I'd prefer a straight bank loan for the remaining funding (which is clearly difficult in this market). Or a short dated options issuance with an excercise date in time to pay their bills for construction. Not sure how possible that would be.....
Challenging markets for them (and everyone) right now. At least the Aussie dollar is going in their favour.
HMC Price at posting:
3.3¢ Sentiment: LT Buy Disclosure: Held
