capital raising, page-48

You are joking right. $20m raising for sophisticated investors only in a $100m market cap company. That is a serious dilution! UFB if true. Better be some serious drilling upside for that sort of dilution.

I cannot understand why it would be sophisticated investors only unless they want to kick off the drill campaign now and cannot wait for a SPP.

Very odd. All their other raisings have included a SPP.

Lets wait and see what they say.