Ann: Investor Presentation , page-23

No, kununurra, they're not.

Stunning that th company didn';t make the capital raising price clearer. Here's the new one:

A renounceable Rights Issue to shareholders of
1
new share for every share held at an issue price of
4.0¢ to raise $17.4m

•The rights shares will have a 1-for-1 attaching option exercisable at 4.5¢ expiring 3 October 2017 (to fit in with the 180 day timeframe to complete the purchase from Wise Energy

•The rights shares will also have a 1 for 3 attaching option exercisable at 5.5¢ expiring 31 March 2017

•New shares will rank equally with existing ordinary shares

•The rights issue in conjunction with placement will raise
$20.2m

•The issue price represents a discount of 60% to the last
sale price of 10¢