We are an explorer/developer. We need cash to drill. 3choices exist.
1) Raise like an AUD play. At discount to share price.
2) Take on a strategic for a small premium but give stuff away
3) raise at x1.95 share price.
The raise allows more than 5 drills to execute a campaign at Adina for the next 12months.
I expect this could be the last raise by Wr1. Post MRE strategics will be wanting a piece of Adina - Deals will be solidified.
Fwiw. CR complete and scaled back.
Roads getting built and wr1 wont be paying...
Ann: Trading Halt, page-320
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