Ann: NCZ to Reduce Secured Debt by Over 50% Through US$25m Raise, page-14

Agree Bonies!

Raise massively derisks the stock and in a volatile environment, it is the right thing to do.
Yes, they could of skipped on the raise and risked putting up in a position similar to Altura (bit of an exaggeration as we are not as leveraged as they were)
Debt free next year you would think and a decent drilling campaign to extend mine life.

As for the raise - you are entitled to participate and get 1 share for every 12 you hold - at 15.5c.