Ann: Capital Raising, page-9

Well there you have it.  As suspected.  Really I couldn't see any other option but to raise cash so it's not a surprise to me.  The raise is for just a modest amount.  At 0.6c this represents a 17.2% (or thereabouts) dilution.  Could have been a lot worse.  Really the key now is to show some value in the company's assets out of the use of this funding.  They need to show they can unlock money flow from production to prevent the need for more low ball share price CRs.  Otherwise it won't be long before we're back at the trough asking for more money.  I agree the $105K committed by directors is a positive.  Let's see what they have up their sleeve over the next 3 months.  They need to do something.