trading halt substantial capital raising, page-6

Gee, seriously glad Ive been waiting on the sidelines to invest in SBL. In my mind there were too many quick announcements pumping the share price and my gut was saying something wasnt right. A 'significant' capital raising makes me wonder what the funds will be used for apart from the obvious resource to reserves work and exploration drilling. Expect they may look to gain more equipment/spares for the plant, also perhaps progress plans to upgrade plant.

One issue I have is that they have not quoted there expected cost per ounce from the plant. They have quoted previous historic production costs but not current expected costs on what will be substantially lower grades than what was milled previously.

So there are variables that add risk and hence why the valuation on the company is so low IMO.