A mining start-up company raising monies given they have zero...

A mining start-up company raising monies given they have zero income. Who would have thought.

Fairly standard, if not better than anticipated raise. Floor of 1.5c is not bad, but VWAP of 7 days means it is likely around 1.7c given they are using higher of the two.

One disappointment is options at 150% of current price over 3 years. You would hope if you hold this you would have a return of more than 150% in next 3 years. In saying that ASX 200 return is 8%, so 24% vs 150% means it's still a good result.

Either way, this is for corporate costs and hopefully our last CR ever. Need the IDC loan to fund mining re-start which I anticipate in next two weeks so we can start mining and become a producer.