anglo doesn't take up rights

Disappointing that major shareholder has lapsed their rights.

However $3.6 million was raised plus another $1.4 million from underwriters.

Probably downward share price pressure in the short term from overhang (company wants to place balance of $7m if possible), underwriters baling and lack of support from Anglo.

The above will pass in a few months so counting on some good production reports to turn the tide.