Ann: Trading Halt, page-17

@boughtearly - it's good to see your posts here today. I agree with all your comments.
Perhaps some here do not realise just how valuable Ardea's assets are and they need to be protected.

Even with $8 million plus in bank, it is obvious Ardea does not want to be a sitting duck for some predator to come along and not only could they get the box but the box full of chocolates.
Some could look back and see what Herons market cap was years ago (with these same assets that now belong to Ardea ) and come to some kind of conclusion that our company is very undervalued.

@Chris21844 - Why on earth would you be pissed off if they were to rattle the tin with $8 million plus in bank? Ardea has never before rattled the tin and besides, you would most likely not be obliged to participate. You are likely to have bought ARL for its nickel and cobalt and Ardea wants and needs to protect this asset.
The way I see it, we are very likely going to receive free shares in a new company (an exciting gold company future) and the more shares one holds in Ardea, the more new shares one will receive.
We will also very likely be offered to apply for shares as a top up - and yes, based on early results and the high probability of much more success I will be in there for my fill.

Have faith in Ardea's board and strategy, simply put, the equity raising is to preserve its nickel and cobalt projects and the extra cash is to prove up its gold projects.
We know that Ardea is highly likely to do a spin out of its gold and as I see it, this will extract maximum benefit for shareholders rather than if someone was to do a deal with Ardea and then that someone getting far more than they were bargaining for in the first instance.