Well, they raised $4.77million in the December quarter.
On December 31st there was $3.26 mill cash in the bank.
At the end of this month we will see where the money went in the March quarter...
The issue of 37.2 million shares at 12.5c will raise $4.65 million....
...and I thought this was going to be a low-cost operation...and we owned the plant,vehicles & gear?
There IS a possibility that the SPP is a means of allowing holders to buy more at 12.5c.....everyone can buy up to 120,000 shares......this is my preferred possibility....
or
Our board is financially incompetent and couldnt manage a raffle..........I really dont like that one....
Which is it? Its your decision...... :-)
GZ
Ann: Share Purchase Plan , page-6
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