From what I can gather the company is intending to raise funds...

From what I can gather the company is intending to raise funds from existing option holders on the same terms as what they recently raised 1.5 million (150 mil shares with 150 mil options) and essentially extend the option date for these holders as a ‘reward’ albeit these parties would have to tip in more capital. From what I can gather it looks like it will be at an offer price of 0.01 per share or 0.005 per share, I believe it is the former one. I am not an option holder and just hold the heads here (unfortunately, it has been a very painful process being a holder here) but have tried my best to decipher the announcement for you. We have a heart beat here albeit on life support so let’s see if it can be reinstated (ASX would have to be comfortable they have enough dollars, I suspect the amount raised was perhaps to cover ASX listing fees) and the company can do something meaningful like acquire a new tenement and actually explore, I know, wishful thinking. At the end of the day some form of reinstatement is better than the alternative, liquidation. Cheers, CP.