That's given the share price a bit of a boost, unlike the Middle East 10c per share investment, which seemed to make no difference at all. At least these latest shares were issued at 6.5c and not some lower price.
There are now 481,060,840 shares on issue, plus 149,926,002 Sep 2014 options and 157,276,002 Sep 2016 options. That adds up to a total of 788,262,844 shares that will be on issue after Sep 2016, if all options are exercised, assuming they are all in the money. The good news is that the SP will be at least 20c if this occurs.
The bad news is that this represents a lot of dilution.
Also, the market needs to know whether the $2 million USD Apollo licence fee has been paid. (I suspect this latest working capital raising can tell us the answer to that... i.e. "no".)
Otherwise, all good, assuming things are moving along nicely, which is all we can assume, in the absence of any other information.
EVM Price at posting:
6.4¢ Sentiment: LT Buy Disclosure: Held
