Saturday 12 October 2013

Paddling around, waiting for the dilution wave

So, all is in readiness for a 70 million capital raise.

It's pretty clear nothing will happen on the market until this is clarified. The SP has dropped to $4, and will sit there until the details are announced.

We'll see how sweet a deal is offered in return for liquidity. But, as I've mentioned, there are few champions left for Australian shareholders on this Board.