capital raising - future prospects

I have been reading a lot of comments since this morning about capital raising and P&D coming soon.

We all know that cap raising will eventually come, the point to note here is they have only 156m shares on issue - Yes only 156m , unlike some mining companies which have 2-3 billion shares on offer. As per the corporations act, they can only issue 15% of the current shares , implying only 24m shares will be issued which will be sufficient to last another 4-5 months.

By June/July 2014, we will have drilling results from Seimana and work would recommence on Granmuren/Nordgruva projects which are both Nickel related projects. Nickel prices have jumped 25% in last month or so.

Even if the drilling results from Seimana are half decent as today's results , market cap of 20m will be cheap.

So, accept that this is a mining company and cap raisings are part and parcel of business - The main point to see here would be how they manage the cap raising (issue at current prices or offer at a massive discount).