Yep. Not happy with the updates from the Company. I personally wouldn't put any more into this company until they 1- finalise the draw down facility (not sure if there has been any more information when they reported the delay a couple of weeks ago) 2 - make an investment decision re Cadlao and 3- update the market.
When this share purchase plan came out I was very sceptical of the timing of the offer in relation to updating the market about the FID and funding. The question I have is this: why would they offer shares at $0.09 when they could capital raise at (presumably) much higher once they have announced the go ahead with the Cadlao project???
Anyone else have any thoughts on this one???
Anyway just my thoughts (not an expert in any way)...DYOR.
RAI Price at posting:
8.8¢ Sentiment: None Disclosure: Held