Can fully understand why existing and LT shareholders would be...

Can fully understand why existing and LT shareholders would be peeved. Fair bit of dilution. My guess is, they would have decided on a funding amount and being a reasonably large sum, the price had to be lower to reach agreement with a broker. E.g. if they'd only been after $2-3m, I'll bet they could have got it away at 6-7c, easily. The $9m buys them extra insurance against early trial failure, similar to an oiler raising, just prior to spud. A microcap with a trial failure and no money is a going concern risk or, at best, fodder for corporate groups to either take control of the register (see FTT) or do a large, dilutive down round. Bit of a balance to strike between dilution now vs protection for later and being able to carry-out the remaining trials. Can understand some being annoyed with the balance in this funding round. I think this will run nicely into readouts, even if not to last year's highs. Best of luck to all.