capital raising @ 22 cents, page-22

re: capital raising @ 22 cents...very good!! Seems pretty fair to me...

I actually see this issue as a good result for all concerned, because; it's open to everyone; it will fix their short term funding issues; it will enable follow up exploration at Marathon; the size of the issue is minimal and; last but not least, it's a good price!

Importantly however, the share price will now have to hold current levels if it is to be successful...so either look for on market support, or expect very juicy announcement!

I think there is more to this than meets the eye...

1: Why such a small issue? If going to the trouble of seeking funds from the market, why only raise barely enough for another 6-8 months of survival...unless of course you were confident of being able to raise more down the track, perhaps when the price is higher?

2. Why by public invitation and not simply an issue to sophisticated investors? Perhaps the sophisticated types were playing hardball and TAS were confident enough to feel they didn't need them and could get a better deal from the public.

3. With an issue price so close to the current price, under the current circumstances, such an issue would normally be doomed to failure...which leads me to believe that TAS is expecting higher prices!

4. There seems to be no particular sense of urgency regarding the issue, or in other words, they don't seem to be trying to stich up the issue before the results are out...in fact, it would appear that they have specifically timed the issue to coincide with the expected release of the assay results.

Now they really have my attention!

Cheers!