Hi everyone, there are so many points in here to consider....

Hi everyone, there are so many points in here to consider. Firstly this is IMO the best run junior mining company I have ever come across, with Management/BOD being as honest and working for all shareholders and not just their own interests.

You are not and never will find 'better' directors to run this company.
I'll be voting in the existing guys, an I'm in the top 10 shareholders.

If you read the announcement properly, they can change who gets how many shares however they like due to a number of factors, including how many shares you have, whether you have been buying or selling etc etc. Those with only $470 worth of shares will not be getting their full allotment.

Look at the share price now. Despite what someone else stated, that is my order at 4.8c that has been sitting there for a few days, and the last few thousand shares cannot get filled!! We have basically run out of sellers below 5c.

This $2.5M only needs 166 shareholders to take their full allotment and the lot are gone!! I can guarantee EVERY director will take $15,000, and so will all the top 20. That will leave only 140 full allotments left.
While I think it was a mistake to have it underwritten as IMO it will be well oversubscribed, the exact effect of a cap raise is never really known until a few days after the announcement, so yes it was prudent.

If we start finding some more copper at Succoth of good grade, and likewise of Nickel/Copper at Nebo/Babel, plus/or better recoveries through metallurgicals, which is the same as finding higher grade from a cash perspective, the odds of OZL taking us out or at least trying to are very high.

From a large companies perspective, spending $36m means they think this is viable. If they start to prove it up as viable then they will start buying our shares.
If it looks like being worth "many" billions of dollars, they will not want a JV with a junior holding 30% of it if they could buy us out at a fraction of that price.

Even after this cap raise, we only have 275M shares, and IMO if OZL thought this was on as a profitable resource, they would buy our shares up to a $1 and still do much better than having a 30% JV partner!!

So again IMO this is a steal at these prices, and is at anything below 20-30c and that will rise massively as copper, nickel, cobalt rise in price and the discoveries get better.

I really don't think this will get down to 4.5c because I know of someone that is buying above that price, AND voting in FAVOUR of all existing directors as they are doing a terrific job!!