Ann: Redemption of Con Notes, Financing Update and Appendix 3B, page-6

How can 0.4c be considered at all. This is nothing more then to load up the major holders (who happen to be related to the board) with more shares at bargain basement prices. If we have $3.5m secured why don't we do this.
If production is as good as what previous announcements allude to then why are we even considering raising more then the current market capital?!?
I have been supportive of management up to this point but this is ludicrous. I'll be contacting ASIC