Ann: Capital Raising - Placement and Share Purchase Plan, page-13

This is a relatively small capital raising that at least minimises dilution. The small sum they are raising may also be an indicator that they are confident of beginning to sell the stockpiles before they need to raise again (certainly hope that will be the case). As for offering the options? I'd suggest it's a sweetener that was needed to get investors to participate without being forced to offer shares below 2 cents.

Yes it would have been nice to have the stockpiles being shipped by now but timing is never easy. This is still a high risk stock with no revenue but excellent (yet to be proved) potential. Treat it as such.

From here we all hope that the forthcoming assay and stockpile results give us two lots of positive news. If the figures on the stockpiles prove the economic potential then we may move to sales fairly quickly (is the March quarter possible?) and if that pans out then maybe there will be some cash-flow coming through next year to pay for further exploration and the next steps to re-open mining at Cangai.

Time will tell of course.