THe capital raise is needed to drill the new tenement. They can't use existing cash to drill new projects or projects not included in the prospectus relating to the previous raise. The raise is for $1.5 million at 4 cents per share with an attaching option. Keeping it as small as possible to minimise dilution and just enough to cover drilling costs of the new project.
Ann: Sabre Resources Presentation ASX Spotlight 23 Conference, page-10
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