Aureus Mining Flushed Out - $80 million fund raise underway

Yesterday I warned that Aureus Mining was going to have to raise stacks of cash. The deluge of upbeat RNS announcements told you as much. And I advised selling at 57.5p. This was met with stacks of Bulletin Board abuse from folks insistent that I did not know what I was talking about. I suggest scores on doors after 24 hours: TW 1 BB Morons Nil. As today the company has ‘fessed up saying it plans to raise $80 million via issuing new shares. For a company capitalised at £60 million ($95 million) that is a huge ask and there seem to be all sorts of risks here. I would almost be tempted to go short here. If I own the stock I would sell. Here is why.

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