Ann: $13m equity raising to accelerate Cobar copper discovery, page-4

Been holding 5+ years here (and well underwater), but this whole raise leaves too many unanswered questions for me......

The current M/C is (was) $19M, but the company plans to raise $13M - which in my uneducated mind seems pretty significant given what the company currently 'offers' in terms of its declared resources.......... so why are mining and resource investors suddenly piling in such huge sums of money? I don't recall any significant releases of late that would stimulate such a response........... i mean given the rules of trading they are only privvy to the same data as your average mug punter that's been released?

I dunno, maybe they were down the pub and their version of Punters Club is to plough a huge sum of money into a random explorer and the dart landed on HLX.