Note that the first $9.9m is within existing placement capacity,...

Note that the first $9.9m is within existing placement capacity, and the final $700k requires shareholder approval. >15% of this is the directors.

I do not see any need to raise this additional $700k at this stage ($16m is more than enough for maiden resource and PFS). This is greedy directors trying to get a slice and I will be voting against these additional shares.

In my opinion we were stretched (but adequately funded) to reach the maiden resource. This raise removes any uncertainty around getting there, but at the cost of significant dilution. $10.6m is massively overcooked as a total amount to raise.