Capricorn dancing to funding needs

IDEALLY potential gold developer Capricorn Metals needs to boost market interest in its Karlawinda project pronto given funding requirements in both the short and medium term.

Capricorn dancing to funding needs Capricorn dancing to funding needs Capricorn dancing to funding needs Capricorn dancing to funding needs Capricorn dancing to funding needs

On current projections the company will have less than A$1 million to its name by the end of the current quarter, though indications were given at Capricorn’s AGM that the situation was being addressed.

In the medium term it will need to raise a big slab of equity (to go with debt funding) for Karlawinda’s development.

Capricorn’s stocks have been on the slide for the past six months, with shares currently at levels around half the price they were issued at back in March in a $10 million placement to London-based Hawke’s Point Holdings.

Capricorn’s executive chairman Heath Hellewell confirmed he had been in London recently talking to shareholders.  

He also sought to reas...