Ann: $1m Capital Raising to Fund Further Drilling at Lake Roe-BRB.AX, page-2

Bit disappointed BRB are raising @ 13c. Share price was hovering around 20-22c after being sold down to the mid teens after drilling result announcement. I would have thought they could have raised at 15c at least as this would have given a descent discount to the recent trading level. Anyway, I guess management wanted to make sure that there was a high likelihood of the capital raising being fully subscribed. Also its good PR if you can come out and say the capital raising was well oversubscribed!

I'm still looking forward to seeing what they uncover in the next drilling program that will be starting shortly. As mentioned they know the primary gold is there, its a matter of finding the economic sources.