The ann also states:
"Funds raised pursuant to the Placement will further strengthen its balance sheet ahead of the upcoming drilling of Icewine#2 well, which is scheduled to spud in early Q2 2017. Specifically, the proceeds will provide the Company with the financial flexibility to cover any unexpected costs arising from the drilling of Icewine#2, lease payments due in respect of the significant new acreage awarded and ongoing exploration activities.
"
But it fails to go into further details.
Ann: Oversubscribed Placement to raise A$17m, page-92
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