When you take into account the GOVT grants which they should be...

When you take into account the GOVT grants which they should be able to pick up this is a reasonable amount of funding. Disappointing the use of funds is not thought to be sufficient to include JORC update

"The funds raised from the Placement and the Entitlement Offer will be used for further drilling at the Company’s 100% owned Jervois Copper Project in the Northern Territory and working capital. As announced on 12 September 2017, the Company has completed down hole electromagnetic (DHEM) surveys and is awaiting assay results from recent drilling at the Reward Prospect. Separately the assays announced on 4 September 2017 for recent holes drilling at Rockface, delivered good continuity of highgrade copper mineralisation, which will assist in future exploration planning. The Company will announce the results of these assays in due course"

SP may be caned for this, though existing shareholder participation and new shareholder all looks like they are very excited as to what is to come

AIMHO