Ann: Placement Raises $3 Million, page-36

@Pro tempore, @SLOGGER... better to keep CR's tight, purpose-focused and (most importantly) over-subscribed - or at least quickly/easily raised with little need to spruik. The stink of a drawn-out CR/undersubscription can hard to waft away, especially in dire times when wallets incline more towards staying snapped shut as a default. Also, if you do raise more cash than you really need it tends in spec miners to get spent anyway. Even red-hot management can justify unnecessary expenses if there's an idle extra wodge in the kitty (it might just be cream biccies instead of dry assorted). Better to have a disciplined, outcome-oriented budget to focus attentions. Chances are, as others have noted, that there's good grounds for confidence that this one will be ample. And if circumstances change and do demand another, well, we're better placed to go to market again, having not gone the big over-suckle this time.

Finally, don't forget the other side of the buy-in coin, anyway: $3 million further down the track, with a probable BFS under our belt, you'd like to think we'd be able to ask for a good nudge up the scale from .35 a ticket, right? You only sell as many seats cheaply as you really need to.