"The capital raise is needed to drill the new tenement. They can't use existing cash to drill new projects or projects not included in the prospectus relating to the previous raise"
That is abselout bull crap, mate! They could have waited for a higher price. especially if results from the lab were to be good. I really want to see management participate heavily in this cap raise. Put your money where your mouth is!
And as it was mentioned previously, converting options would have injected a substantial amount of money. With this raise, they have just indicated to the market that our SP is not even worth 0.06 cents!
SBR Price at posting:
4.8¢ Sentiment: None Disclosure: Held
