Ann: MPJ raises $A1.2 Million via Placement, page-39

Best outcome for a CR in my view.
A CR is hardly ever a good thing for a company so to find a soph. investor is the least worse scenario here.
Going back to existing shareholders would have been disastrous.
Really curious to see who it is. Picking on words here but does 'Sophisticated Investors' mean 1 person/company or several in this context? Sounds to me like one private investor who has forked up the amount for some shares and a spot on the board. Hmm, wonder who that could be.
I was a bit surprised todays trading initially went down but once everyone had time to realise it wasn't the end of the world both heads and tails recovered to even for the day.

Ah well, we needed a CR sooner or later but it came very close to the previous one and I wished they had somehow got the options in play for the next cash injection.
At least we won't die wondering now. We either have something in the ground or not.
Drilling is financed, bring it on.

On a last note, can you please stop posting reviews from Catalyst Hunter / Next Small Cap etc since they are more often than not 'the kiss of death' to any company.

Cheers