Disappointingly raising all to insto's. Blackwood are running the process. PRU & Macquarie are participating and maintaining % holding. $8-10m raised at 20c. On the positive, they are now funded through to project financing, particularly if the 20c & 25c options are exercised. And I suspect there with more good news to come re Shambesai and Obdilla drilling. Which is why I am a bit angry that we weren't invited to participate or that the company didn't wait for the good news to be released before tapping the instos. Surely the insiders wouldn't look after themselves at the expense of smaller shareholders, would they???
placement, page-8
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