Ann: Classic To Commence Trial Mining Of Gold Ore At Kat Gap, page-25

Did anyone notice what the value of the latest “proposed issue of shares” was? (See pic)
Current share price 1/10th of a cent (because it can’t go lower)
Shares issued at 1/20th of a cent.
You can look at it two ways.
1. Your directors value the company at half its current market cap (still way overvalued IMO)
2. Gave the creditor (who ever it is ) an immediate 100% profit if they can be bothered waiting 10 years to get to the top of the sell queue.
PS. Was for the retirement of $12000 of debt.
PPS. Looks like the capital raise from the shareholders is a dismal failure IMO or wouldn’t you wait for the cash if you were the creditor.
PPPS. Still no notice from the directors “throwing their full support” behind the capital raise by subscribing for their full allocation. Perhaps they’re waiting for the money to roll in from porka and garfmate’s over subscription