capital raising to commence drilling of jaya s, page-35

I honestly don't see what all the fuss is about...

What did shareholders expect?...that cash at bank would magically increase without a corresponding credit??

In my opinion, it has been a massive over-reaction...$2.5m raised from institutions @ 0.6c and the remaining offered through an ENTITLEMENT offer at 0.6c, is not a bad thing at all irrespective of the oppies...most of the entitlements, it seems, will be taken up by management etc and they won't be able to sell those for a good 12 months or so...this implies security for me!

The huge positive is that we can finally advance the drilling program, and if Thamrin's drill target is accurate, we will reap the benefits in spite of the expected dilution...if not, THEN I'll declare myself bankrupt ;)