While I was initially disappointed with the credit raising at such a low price, especially after the receipt of the DSO, what some have said makes perfect sense and the issue of the new shares at .005 is effectively the same as having underwritten the options IMO, and in fact works out better because there is less dilution as effectively only half were "exercised/underwritten" and perhaps was all that was needed. I feel sure that management could have raised more if they required it and it is good to see that Hamish moved so quickly with a plan B which has been somewhat lacking in the past. It seems lessons have been learned from past mistakes. Thinking logically, the whole purpose of the DSO is to generate immediate income which is why such a lot of effort was directed towards obtaining it. We know that we have a couple of mines on ice waiting for the DSO, so it wouldn't surprise me if some of these funds are put towards the purchase of these mines, they aren't free and we needed the cash to buy them. IMO we'll have some news regarding the purchase of these mines very soon. Securing the resources should be a priority now, again only IMO.
GMC Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
