A raise at 3.3c sounds like bs to me. That’s a 25% discount, usually it’s 10% and that’s for companies in sectors which are struggling to get funds, like Ni at the moment. One poster in here saying it’s that from a friend of a friend doesn’t make it factual.
Having said that, if it does end up being that, existing shareholders have every right to be upset because it’s too big a discount. Also $1.4M sounds like bs, if you are going to the trouble of disturbing the momentum and know how positive the west Arunta region is now, you might as well do a sizeable $5-10M raise to ensure plenty of drill holes this program and maybe even enough for a phase 2 drilling program a few months later once initial assays and geological information comes back.
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