Ann: Placement and Rights Issue to raise up to approx $4.62M, page-10

Why raise so much if the Saudi investment is imminent, and PFS is due? Unless there is some uncertainty on the timing of both of these or even the certainty that either of these is beneficial, and they want to keep money for say 4 quarters or more? If only they had raised just enough to cover 1 quarter cash burn, the impact on share price would be a lot more muted as we can read between the lines. Now they are going to be funded for a few quarters, can we expect more of BS reports coming out on great the tenements are to pump up the price? I hope not…a frustrated long term holder (albeit free holding)

GLTAH