"Perhaps someone else can clarify and give a reason as to why the company was doing the ring around."
The $28m is quite a big amount to fill.
It's not the end of the world if they don't raise the whole amount: "Assumes $28m Priority Offer and Placement fully subscribed. In the event the minimum subscription under the Priority Offer and Placement is raised ($20m), $7.5m allocated to ‘Future opportunities’ would reduce to zero with the balance of the adjustment made to ‘working capital’ and ‘transaction costs"
Use of Funds ƒ Acquisition of tenements from PWR A$8.5m ƒ Exploration / resource definition / scoping study A$7.6m ƒ Future opportunities (including due diligence) – Mongolia and Indonesia A$7.5m ƒ Corporate administration and working capital A$2.6m ƒ Transaction costs A$1.8m ƒ Total funds raised A$28 0m
Source: slide 17 of the latest presentation
CEO Price at posting:
4.4¢ Sentiment: None Disclosure: Held
