[Video] Ora Banda Mining Set To Undertake 21M Placement, page-86

As you say it must have been obvious in February/March (around the first gold pour) that Riverena ore fouled up the sieves and crushing machinery and that Davyhurst throughput would consequently suffer and they would be able to see hw that impacted on cash flow. As a retail SH I'm usually pretty disappointed that capital raising shares dis proportionally go to placements with institutions and consequently that us SH are diluted. In this case i think management pulled a masterstroke by guessing how fickle retail holders are and raising the money they needed as a placement. Given the response of retail holders to the SPP the company would now be on it's back with little in the bank and forced to hock themselves to CBA in the $15m hedged debt facility. I have seen a number of companies screwed by the banksters so thankfully we live o fight another day and with a good September quarter should be back to the old SP. I think we can all expect a lousy June quarter given the 13kozs to 18kozs guidance for FY/21 in the last company annoucement.