Mike, it will put pressure on the sp at 3.5c.
In two minds about it.
They have 15m bull tokens worth 15m au plus.
The present options bring in 8m also.
If the present options are exercised no need for capital for atleast 1 year.
I'd have been selling some bull and doing a small buyback at this low sp versus increasing the soi at a cheap sp.
If tyrranus and Mt stirling prove up, they are issuing capital to cheap.
Maybe why tnr is stuck at the 3c mark already.
Also this will cause an overhang.
Ann: Proposed issue of securities - TNR, page-5
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