Agree, it's a strategic raise, we just have to trust the MD as he pointed out to Galaxy "it may not look obvious, however we are following a path that will pay dividends".
The raise is actually peanuts - 9m shares for $3m bucks. I recall when we issued 45m shares in 2 tranches for $2.7m before costs @ 6c and Regal + Fosters absolutely destroyed us. This 9m is going into safe hands @ 34c.
Great volume in Germany tonight btw - over 1m traded around .43c
Ann: International Fund Initiates Strategic Interest in FYI, page-55
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