Of course you're right Sillyskin....equity markets have been...

Of course you're right Sillyskin....equity markets have been plain sailing over the last 12 months, particularly for junior resource plays! I guess this current raising will be heavily undersubscribed as institutions and HNW investors take on board your view of life. Let's just see, shall we?
In the most difficult and fickle markets seen in a generation, I believe these blokes have done a terrific job. Naturally, sources of funding are key, particularly when risk is off the table, but, the fact that they have been able to put away 2 raisings, (and most likely a 3rd)in the past few years, is a feather in their cap. They have not wavered from their strategy and have only been hamstrung by crappy markets. My view is that the bulk of the funds (hopefully) raised this time around will be directed towards California, such is the optimism generated by the recent results. I did tend to think Tshirt was a little over-optimistic over the potential of the Californian stuff, however, my view has changed as a result of recent developments. Vietnam remains the mega unknown but I'm certainly still extremely confident. Short term moves mean zip, if your investment horizons are greater than what may happen next week. And if you are a serious investor, the 3 keys are management, management, management. Check the pedigree of the current management and then come back and tell me why I'm dreamin'.