I understand what you are saying. My real question was “What did...

I understand what you are saying. My real question was “What did Shareholders expect the Nett result to their investment would be if they held onto their shares but did NOT support the CR?”

Looking at different scenarios I will throw this one out there.....

On what basis (given what we know) would shareholders support a revised CR?

Personally, I would like to see something along the lines;

1. New Partner committed for $x amount to fund say 50% of the drilling campaign for x amount of the project and funding guaranteed.
2. $x amount of money raised to pay all of our current liabilities.
3. All Directors/Management Fee(s) stopped in cash payments and shares issued in lieu on completion of the drilling campaign @ market value.
4. A personal gaurantee from each of the Directors stating no fees or salaries and that all funds raised will be used solely for the purpose stated in the CR.
5. A personal gaurantee from the Board that failure to complete the drilling campaign on the terms stated and by a reasonable completion date then they would ALL tender their resignations without any further renumeration from the business.

Would you support a CR on this basis?

Good Luck All