Ann: Non-Renounceable Rights Issue, page-4

Dap - that is primarily his accrued salary. Net cash has been negative for a while now...

Structuring this as a rights issue means it can be shrouded in "shareholders best interests" type comments. However having a 44% discounted raise underwritten shows the real intention - cheap shares for the underwriters.

Always a shame when good gold assets get tied up in this sort of mess