They have no money guys. This was and should have been on everyone's radar. We were just hoping the SP was 70c instead of 17c for the raise. I honestly thought they would wait for the lab result at least.
I do hope that there is an offer to existing holders this time - but, we are talking circa 10 m raise (2 parts 5m now and another 5 mil subject to approval) and 10-12c, with 1 for 2 oppies (probably more of the 25c ones).
What I hope to see in the detail is a plan for funds, drill the M-1 well in January? is that wishful thinking - declare a conventional discovery.
Easy now to say wish I had sold. This is the game.
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