So now they raise approx $5 mill which will keep them going for...

So now they raise approx $5 mill which will keep them going for another 2 Qs of development at Storm and Utah - I expect considerable advancement in that time.
Downside is the minimal involvement available to ordinary shareholders. Strong companies have strong shareholder support - weak companies allow themselves to be manipulated by the broker set. In this case the lead manager gets total 6% fee on a placement and rights at a price way below asset value, and because Rights are Non-Renouncable will pick up any shortfall.

ASIC should investigate price action and downrampers in anticipation of raises like this, it is so easy to have price manipulation. One day they will !!

I will participate in the Right Issue.