"Zeb what can we expect?"Well, Fredy, I took my lumps and bailed...

"Zeb what can we expect?"

Well, Fredy, I took my lumps and bailed at 0.7c. And now the company is diluting existing SHs to the tune of another 25% at 0.3c + free oppies on the hint of a whiff of a promise of gold exploration success. When the dust settles there will be ~4,950m SOI + the prospect of another 412m of new shares to issue if said oppies are ever exercised at 0.6c, which would then take the updated SOI to 5,350m! The mind boggles.

Naturally those free oppies are contingent on the SP appreciating to 0.6c in the first place, which seems a bit (lot) of a stretch, given the sheer weight of overhang of the 1,239m new shares to issue during this round alone, without considering the likely behaviour the holders of the current 3,713m shares.

So, baseline SOI will be ~4,950m (i.e. 3,713m current + 1,239m to issue) if they can find a home for all the new shares.

The EI closes tomorrow (27/08), with the results of the raising to be made public by no later than next Tues (03/07). Come what may, I'm sure as sh!t glad I took my lumps when I did. I've taken my capital elsewhere and am quietly pleased with the rebuilding progress at this relatively early stage.