On first read I think this is a good announcement for existing shareholders , we get to participate through rights issue and also our oppies are now half price , previously it's all been about dilution to "mates" but we now get to participate in the main course and desert.
At the end of it we will have-
* >$6m in the bank
* circa 335m shares and 140m options
*mc of about $14m
Let's get it done , drill these projects for the next 3-6 months and raise another $14 mill this time next year with SP > 20c using options.
I'm intrigued with the rights issue , great for existing shareholders, I take from this that they are going for broke with a very aggressive exploration plan and want to see loyal shareholders rewarded
Well that's what I'm hoping for , for what it's worth I'll be taking up my options and rights issue in full, what the hell the risk v reward is to good to let go
Good luck all
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