Ann: EPA approves ESD and sets timetable for Arrowsmith North, page-108

Re cash management,

Am I reading the cash flow statements wrong?
Under heading called Securities issued
6 Mths to Dec 31 - $4.4m
12 mths to June 30 / 21 - $11.4m
12 mths to June 30 / 20 - $4.2m
12 mths to June 30 / 19 - $9.5m

That's a total of $25.5m raised over 3.5 years.

Am I wrong?

Mind you, V does have a relatively low level of shares on issue so can afford to dilute a bit. In fact, probably a fair bit to create some more "share liquidity" in the market - not too sure about it thoughv - would welcome other views as to the benefits of issuing more shares or not. After all, SP is a result of economics 101 - demand and supply.