Ann: Mineral Resources Ltd takes $2M Placement in Barra, page-11

Barra probably didn't think they'd need the money a few months ago - situations change. Their focus now is to get the PFS over the line, whatever it takes.

We have no idea how strong CNJ is looking post-raise. But if they only raised the minimum, they can't afford all of their half of the PFS (have a look at the prospectus). If the PFS doesn't happen we're toast. Luckily, MIN on board is brilliant.

You can bet the directors are not happy to raise this price either - they have a lot more shares than we do, so the dilution affects them a lot more than us.