Ann: Becoming a substantial holder from MUFG, page-25

Honestly, I don’t see retail investors picking up all the $8M slack…so if the bottom feeders are trading at 0.55c to keep the SP at 0.6c for the duration of the SPP so they can pick up more of the shortfall (with bonus oppies) on retail reluctance, I don’t really have a problem with that.

Who the money actually comes from I don’t think matters - ultimately I want XTC get as close to the $20M they’re asking for so a) they can do all the drilling and resource analysis they need to push the project along and the SP up, and b) push any further CR’s out as far as possible. Ideally you’d want the next injection of capital to be from a joint venture partner, rather than having keep putting their hand out to the market and diluting. But exploration and mining is an expensive business, maybe that’s just me living in dreamworld.