2017 here we come, page-62

22/11 Completion of private placement:

• Total monies received of around $499,900.
  
  At the Company’s Annual General Meeting held on 15 November 2016 shareholders approved the issue of these new additional shares, so that for the purposes of ASX Listing Rule 7.1 the new shares do not count towards the 15% threshold.
  
  The Company intends to use the funds towards Pre-Feasibility Studies of the Lomero Gold-Copper-Zinc Project, including upgraded resource estimate, metallurgical test work and drill programme planning.