Ann: $60m capital raise to accelerate development and exploration, page-2

I only bought back into MCR in early November @$1.44. I don't have any really strong conviction on this stock. I can see the merits of accelerating exploration. The one thing that concerns me from the announcement is the allocation of $20.1M of the funds to "Corporate & financing costs". One third of the funds raised is going to be blown on corporate overheads? That seems like a good deal for someone else other than shareholders. I'd like to know more about how they can justify that.