Ann: EQR Raises $4.56 Million in a Well-Supported Placement, page-15

I am not thrilled by the CR. Would of been nice to be able to participate. On the other hand it's done and dusted, money is raised. In todays climate that is an achievement. Also it is worth remembering the mining environment has been under a lot of pressures so to continue ramp up/exploration/studies it requires more money than before.

I had hoped that the last CR was going to be the final one, With the 6mil grant incoming and the new 10mil incoming from the royalty sale along with a potential second 10million for another 3% on the cards lets hope this is the final capital raising to keep the lights on.

Our friends over on King Island got hit with a pretty nasty update today (not that you would know from reading the thread).
Mt Dolphin just announced:
-an increase of 20million (28%) (72mil->92mil)
-IRR reduction from 43% to 38% (decrease of 10+%)
-Opex increase from $126->$147 (aud ~16.5% increase)

This bad news was offset with an overall increase in NPV from 241mil to 300mil off the back of using an increased APT price and a better AUD:USD exchange rate. Both things outside of the companies control. If the AUD appreciates against the USD or the APT price comes down their NPV and IRR will move down again. On top of this Dolphin still has to get through commissioning and ironing out all the usual mine ramp up issues. G6M will be looking to raise 20mil+ from the market and given the current environment I imagine the only real option will be a CR at a steep discount. The grass looks a bit greener at Mt Carbine.