That's a fair point pirate re impact of the raise. There's no...

That's a fair point pirate re impact of the raise. There's no reason for anyone to buy on market now above 0.5 cents knowing that price will be available in the cap raise - subject to rights of course. Nobody should be buying now above 0.5 cents (unless they want to increase the amount of rights without needing to take recourse to buying them on market).

Reasons will return though and there is still room for blue sky eg exploration at the northern borders. Also possible new minerals exploration.

What I do like about this structure is that it looks like Tom Eadie has secured the funding as well that will be required to get mobile plant up and running - from memory that was estimated to be around $10million which the line that neptune mentioned will cover.