Ann: Placement and SPP Update, page-11

I was so hoping that things would get better and Lake got its funds.....but the amateur hour continues...if you could write a handbook on how not to run a capital raising this is it.....you announce firm commitments for $2 million...you end up getting $500K less and say you will try and place it with the SPP shortfall......then you are borrowing to pay out a convertible??......one nightmare passed onto another.
The sunshine and lollypops brigade cannot defend this anymore.....yes the assets look good but the custodians of the assets are making poor decisions on the run....No amount of posturing at African mining conferences will improve perception that this company needs a complete reboot