This is why I'm wondering what's going on. Colin is a pretty savvy operator, they raised now for a reason. There's 4.7m in the bank and the Karmagtai money is currently covering most of the costs, so they weren't being forced to raise now, they have chosen to. The question is why? There will be a reason, and it is isn't, "Duh, they don't know what they're doing". One glance at the Karmagtai deal should demonstrate that.
Ann: Proposed issue of securities - XAM, page-8
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