Ann: $4.8 Million Rights Issue Now Fully Underwritten-EXG.AX, page-5

I was buying yesterday.

That's the thing though I don't see the capital raising being fully subscribed as a positive (partially would have been better). I see it as more shares being issued when they probably have enough capital/finance to make it to the Dec quarter when it begins producing free cash flow to be able to fund itself organically going forward.

And that's the real objective.

So more shares being issued at this point only dilutes the future upside potential of the share price in my opinion.

From my perspective I don't care if other investors have confidence or not - their confidence has no baring on whether EXG is a good investment. Only EXG's future cashflows influence that. And the only thing that influences that is their ability to find and mine gold cost effectively. The share price doesn't influence this. So I actually prefer it when other shareholders don't have confidence. Gives me a chance to buy shares cheaply.

Anyway it doesn't matter - you are right that an extra 10M shares it's not the end of the world and I'll likely accumulate more EXG in the coming months as they kick a few more goals (especially if the gold price stays around $A1800).

I'd buy more now have I suspect that affect a large increase the the quantity of shares at $0.05 there will probably be quite a few shares sloshing around over the coming weeks waiting to see if the Dec quarter plays out as they've suggested.