Yep it's certainly a bit intriguing. HAven't looked at the cash...

Yep it's certainly a bit intriguing. HAven't looked at the cash balance in some time but obviously there's going to be dilution either by way of new shares issued in lieu of cash or a cap raise. Which begs the question of what really went on yesterday morning. Was it mates and cronies getting set or was is an orchestrated attempt to force a VWAP jump ahead of the raise? Seen that many a time with this mob, sudden volume and price spikes ahead of raises. Uncanny.

Set aside whatever they are buying for a minute though (maybe its a masterstroke, who knows) if I was a holder I would be wondering why the hell we are buying a fourth project to fund and manage? Gimlet is obviously just sitting in the top paddock being fattenned hoping for a buyer. But with Gippsland and Mabel Creek neither of which there has been any progress on why more and why now? Have they already lost hope in Gippsland? Surely you'd rather see them make progress in one project before adding yet another.

1 Billion SOI and counting aftetr this you would imagine...