Ann: $10M capital raising & 100% interest Simandou North acquired, page-13

Where is 7.58 billion shares?
Read the company announcement before if you can. Clearly shows only 3ish billion shares even upto now after that half million 0.1c shares released.

Anyway, the management played well. Imo

When they take over the company, sp only 0.1c. Made a lot of good news, pumped the sp. And then released 0.1c 500mil shares as gift. All holders are happy and made money. They even tested the potential investment from spp. Over 5 mil wanna take a bite and even more couldn't get a chance.

now they wanna 10mil at 0.5c 2bil shares. They set the bait and know there are lots of pumpers happy to buy at that price.

But I feel a bit worry. They know they need millions at the beginning, but if they asked for 10.5 mil straight away at a price of 0.4c when sp @0.1/2, who gonna buy? Or even without the first half million gift shares, who will bite the bait?
After this 10mil. Total shares almost doubled as few weeks before. Can we still hold the current price before soild good news? We have to wait for few months before they release the drilling result.

I doubt it. sp trade from 0.1 to now, we have billion of shares are holding with profit. Good chance to take profit before dilution.

IMO DYOR