Doesn't seem daft to me - if they only need X number of dollars...

Doesn't seem daft to me - if they only need X number of dollars for the planned exploration program then keeping the number of shares on issue down is a better outcome for all share holders. 32c is a pretty low price.

I'll put my hand up and say that any refunded $$$ wont be going back into the stock though - I was just in it for the quick 3-5c. I already own all the MCR shares I want.

Seem like an exciting time though - gold should be flowing this year and hopefully Ni production will resume later in the year too. It would be lovely to see some money flowing in for a change.