Monitor Energy (ASX:MHL) seems to be dragging the chain in both raising funds and obtaining shareholder approval for its 90% purchase of the Trinidad assets.
My own view is that MHL is going to struggle to raise the $90 million it needs, especially as it involves issuing 2 billion new shares at a (roughly) 50% premium to the current SP.
It is unclear to me where a failure to proceed by MHL leaves RRS and I would welcome any informed views in this respect.
Regards,
TerryA