Geodynamics Limited called a trading halt on Tuesday 20th. 

On Wednesday 21st February Geodynamics announced that: 

a) the company successfully raised $12m from existing major shareholders and sophisticated investors (but apparently not unsophisticated ones), and plans to proceed with a rights issue to raise more; and 

b) the company has purchased a brand new, state-of-the-art drilling rig from the United States at a cost of $32m. The rig is due to arrive in Australia by mid-year and will allow GDY to start drilling Habanero 3 shortly afterwards.