Ann: Proposed issue of securities - STM, page-2

We'll, that's the end of the hope that Malcolm was going to pull a rabbit out of the hat by way of finding a cornerstone investor to buy in and support the company.
but that's the problem; too cheap to sell the entity off and needing massive funding to run 3 separate explorations.

i have to say I have plenty of sympathy for @borks view that this is a disaster. SP @ 1.2c, $5m raised and with a clear plan as to how much capex is required to turn this into a producing mine, never mind how to raise the SP.

am afraid to look at my books as regards size of the losses, think I'm in at 6.5c..

wazz