I just watched the presentation and it was revealed that the Bergen deal was very badly received by the majority of shareholders.
Chris Giles and the CFO said that it was extremely difficult to raise any money and this Bergen deal was the only way.
Chris added that the initial payment by Bergen would be used to keep the company going but not used for exploration etc.
This means that the 20 cents issue is vital to the continuation of the company.
The presentation was full of optimism but hardly mentioned the financial plight the company is in.
Ann: Renounceable Rights Issue Update and New Prospectus, page-91
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