I find it beneficial to remind oneself that a lot of information...

I find it beneficial to remind oneself that a lot of information released by co’s at this end of the market tends to be spin or borderline spin, an ongoing dance to remain within the boundaries of the corp act and asx rules. This group of announcements is no different with some subtle contradictions that demonstrate the above. They say “commencing an aggressive search for new projects” which has clearly ticked you off on page 5 of the investor presso but on page 10 state “Traka is actively seeking out and reviewing new projects”. Additionally in the “use of funds” pie chart it states that $1.1m will be devoted to the “evaluation and DD of new projects and working capital” imo implying that the search for new projects will indeed take up a significant portion of the raised funds. However in the entitlement prospectus and an area where the information they release has to be clear cut and spin free -
a mere 2.9% will be used for this purpose. So imo with this small portion allocated to what is the major thrust of this recapitalisation plan of the co outlined in the presso which is the hunt for new projects, it remains within the thesis that whatever tenements they’ve got in mind have already been looked at and the 50k allocated will merely be used to facilitate their transfer. I mean it’s just not enough if they intend to run the microscope over a suite of potential projects from scratch right?
So I’ll be taking up my portion of the offer as I feel this one is still bubbling away with the .002 price with piggyback options a very fair price when considering what could be not that far off…