The successful fundraising of SEK 225m will help the company to meet existing demand but also fund additional sales and marketing to exploit the wider growth opportunities we see available to the company as it widens its horizons from the South African ferro chrome market into the global ferro alloy industry. In particular we see this working well with the SMS Group agreement and also building on the recent success with Glencore. While there is some modest dilution the raise represents a major de-risking for the company in our view.
