cashed up but....

OK so the CR was $25M to soph investors at 20c and we miss out.

Per the PR
"The funds raised pursuant to the capital raising will be used to fund development of Shaw River?s manganese
assets in Namibia, Australia and Ghana. This will include the commencement in May 2011 of an extensive infill
drilling program and a feasibility study on Shaw River?s Otjozondu manganese project in Namibia with a view
to bringing Otjozondu into manganese production in 2012. Funds will also be directed at additional drilling and
scoping studies for on Shaw River?s Baramine and Ghana manganese projects."

So there will still need to be further CR for the $37M for the capital cost of initial 250Ktpa operation of Otjo