Ann: Letter to Shareholders Entitlement Issue, page-9

Peppie -

"1 New Share for every 3 shares held at an issue price of 3.5 cents per New Share, to raise up​

to approximately $4.2 million before costs.
It's a good project, but good luck with raising that sort of coin with sand prices the way they are."

Well it looks like they got their money - and before you say they only got "blah blah dollars", it is over 80% of the proposed funding, which is above the level they require to undertake all their activities.  Most Cap Raises have a contingency built in of 70-75%......so even with the sand prices the way they are are, these guys manage to raise a lot of money.... onwards and upwards for these guys.....