Ann: Taruga Raises up to $2m to drive Exploration Activities, page-4

I think the SPP is a mistake in this instance. I understand wanting to reward retail holders for their support but to me this is dragging out the raise significantly longer than it needed to and adding expense for limited additional $$$ to the company.

In my opinion $1.5-$2m represents the minimum that they could raise to meet the companies needs. It's clear that a future more significant CR will still be required to allow exploration activities. My thoughts are directors and management have skin in the gain and so obviously want to minimise dilution (aligned with SH), hence minimal raise now, allow time to get the heritage issues sorted and hopefully get some positive results which would lead to a SP rise and then a less dilutive larger raise down the track which could include an SPP.