ipo valuation around $11.5m, page-3

I also note that in RAF's annual report dated 21/3/14 they have advised they obtained an interest in Gossan Hill Gold:-

RAF has somehow secured 2.32M shares + 1.1M options in Gossan Hill Gold

Why would SOC pay cash + scrip for the asset, only then to turn around and conduct a rights issue and give away scrip to RAF ?

How much was SOC trying to raise inside of Gossan ?

If there was a shortfall, how much of the funds did RAF contribute to obtain their 4% interest ?

Perhaps it is these things that are slowly coming out in the market that shareholders are noticing and do not appreciate