Geez, MXC must think that holders are complete numpties.
US$500k raised and they are saying this will put MXC in a good financial position.
They are churning through AU$9mil every year.
$200k for legal fees - that could rise dramatically. $300k for PR - I suspect more sales will help them more.
Maybe a 1,000:1 consolidation of directors fees should have gone with the 1,000:1 consolidation of the shares - this would have helped bring down most of the annual expenditure.
Ann: Company Update & Capital Raising, page-2
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