Looks like a mates/FMG rates raise (FMG also have a bit of a say in the Company now you'd think, with a 19.9% holding/biggest holder).
Not sure why they raised now, before drilling begins, and we'd probably be at 13-14c by now without the raise, as copper is absolutely flying.
Or we can say that they're good at the geo side (including the AGC discovery) but not so good on the corporate side (raising at wrong times).
Cheers,
GB.
Ann: Firm commitments received for A$3.0 million Placement, page-6
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