$300k placement plus $950k target from share offer with aim of funding to June next year. That's a good goal as it will buy enough time for the company to get clear direction on either or both Mt Gunson and Coburn. Additionally by then the respective markets should be more stable.
Could be a tough get though if Tillbrook and his grouo don't support the raising. I'm guessing they will with so much already invested. The price is reasonable given where we're at. Mind you if anyone does want in they couldn't buy volumes on market at that price.
The signature note from this raising must surely be that Bill Bloking is partially underwriting the issue up to $100k. That is a good example that deserves success - i'm sick of executives across the market place who take shareholders money but don't align with shareholders interests. Well done BB. Put his name up in lights. Now will the other directors follow suit?
GUN Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
