I don't really understand the timing behind this capital raising.
They are going to drill Brand and test Hollick afterwards, and have plenty of cash to do so as far as I am aware, so would have thought they would not do any placement until after this as hopefully higher SP if results are good.
Glad to see their is a rights issue as well though so we don't miss out.
Cdchi1
Ann: Share Placement and Rights Issue , page-2
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