Not sure about the logic for this raise personally. That is a lot of additional shares just as we are looking to finalise the past few months of absorbing and churning through the excess shares from the last raise and x directors' freebies. Surely, with the 'imminent' gold pour from Boorara (stated in this announcement) and the production of Phillips Find in February (also stated in this announcement) this crazy loan agreed to by the x lifestyle mob would have been paid off very fast. Especially with current record Aud gold prices! It defies logic imo and just adds additional dilution and resistance to a major break out and SP recovery. The cynic in me thinks that this is another attempt to suppress the SP until the POS merger is completed. Or Golden Crane Holdings have promised future help and investment to HRZ management if they can get in at the current lows.
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