Ann: Change of Director's Interest Notice, page-133

When I read "Spoke with Stephen hunt...." I literally slam my head into my keyboard. Trevor Matthews cannot start soon enough in my eyes.



As for Capital raising

I doubt it will be first quarter of 2017. We would have to see the financials before we make any calls. Saying that it is coming in 2017. No doubt about it.

As for many saying dilution is inevitable, yes and no, management could do a rights offer to existing holders. For those that don't know what a rights offer is;

"A rights offering (issue) is an issue of rights to a company's existing shareholders that entitles them to buy additional shares directly from the company in proportion to their existing holdings, within a fixed time period. In a rights offering, the subscription price at which each share may be purchased is generally at a discount to the current market price. Rights are often transferable, allowing the holder to sell them on the open market."

(http://www.investopedia.com/terms/r/rightsoffering.asp) there is a good video on the page.


This would allow existing shareholders to purchase more at a discounted price. It allows loyal shareholders to "top up"if they believe the company has a bright future. With 1 billion shares on issue you could do a rights offer of 20:1 allowing shareholders who have 20 shares currently to purchase 1 right to a share at a discounted price of say 5c. This would mean that 50 million new shares are to be generated along with $2.5 million in cash for the company.


It also allows all existing shareholders the same opportunity to buy in without a dilution. This is the best possible scenario for existing shareholders in my eyes.