they raised 1.25mil at 14.5c in 28 jan 2011.
see ann.31/1/2011 quarterly acivity report.
Ahh yes as I asked, its the loan arrangement. I presume the February share issue was in lieu of drawing that loan facility. $1.1mill at 14c (representing 15% discount to VWAP). They did spend $3.7mill on exploration in the December quarter. Presumably their spending since then has ben ALOT less but regardless money has to come from somewhere very soon. Maybe another reason the shareprice is being suppressed.
no reason for the sell-off, page-15
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