locky, bikenut, surely you realise that the bulk of the capital raising is done and dusted. The SPP was only ever going to raise an additional $3M. Given what management have already stated in the public domain in regards to the raising from the 2 rounds of placements already completed to SI's I very much doubt this $3M is material in the working capital requirements. If it were why not simply include it in the initial placements. You may be right on the underwriting but I still beleive the SPP is more about appeasement to the existing holders than material to the companies funding needs. I too am pee'ed off at sitting on a substantial paper loss at the moment but plan on keeping my objectivity when assessing the companies prospects and strategy moving forward.
QOL
queensland ores limited
