Ann: $15m successfully raised via an institutional placement, page-55

The tenements need work before anyone will pay $10m cash for them - it's not going to happen - hence the spin-off.

There is a lot of Kaolin around and the barrier to entry to mine is not high. And graphite is only a little less ubiquitous.

Management did the right thing here and if you are very patient and want to take a chance on iTech then good luck to you.

Regarding the CR - finances, would the first agenda item at every board meeting, this would have been planned for months. Don't underestimate the motivation for any small-cap to secure their payroll as they advance - company survival is number 1. Why some holders expect companies to run down their bank account to two quarters before raising is beyond me, it's a reckless risky move. And it usually only happens when companies have no other option and is a big red flag in my book.

There is minimal dilution here, I suggest people start thinking like an insto and use the CR to their advantage - who thought we could buy at $1.45 again? I didn't - I'm going to pretend it's Xmas and buy what I can!

IMO - DYOR - Good luck all. Ho ho ho!