No that's not right ajlp, This Rights Issue is part of our strategy to fund the next stage of exploration anddevelopment at the Yidby Gold Project, where we are focused on expanding theresource base and continuing to unlock the significant value we believe is inherent in thisasset. The funds raised will primarily be used to:1. Finance Further Exploration – Drill programs aimed at extending the knownmineralization at Yidby, as well as testing new high-priority targets;2. Resource Definition and Scoping Study – Ongoing geological studies andresource estimation work to define a maiden JORC-compliant resource andestablish the project’s economic potential with a Scoping Study on a miningoperation; and3. Working Capital – Strengthening the balance sheet to ensure we are wellpositioned to progress our other projects as outlined below. AND also to keep paying ourselves! As for "We gambled and lost" well I think it should be We gambled and they stole our money would be more like it.
SRN Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
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