Ann: Cooletha Exploration Update, page-98

The company has announced:

** The Company intends to undertake a loyalty option offer post-listing under which each shareholder at the record date of the offer (anticipated to be
between three (3) to six (6) months post-listing) will be given the opportunity to subscribe for one option for every two shares held."

So this means that the rights issue will be between October and December. I expect many people will want to be onboard so that they qualify. This appears to be timed for right after most if not all of the assays results have been received.

This gives me 2 thoughts.

1) They expect that the assays will be met with great excitement by the market and that the share price will be significantly higher.

2) They appear to be planning an extensive diamond drilling campaign to measure the size and grading of the resource. The current $5m will not be enough considering that the strike is 30km in length. This reminds me of AZS who in November last year announced that they were accelerating exploration and moved quickly from rock sampling to drilling quite quickly. AZS back then had a market cap of around $100m, so 4x where ACM are now ie near $2 a share.

I'm no Geo. But I do think that this company has all of the ingredients to make the market take notice.