For what it is worth i personally think that the pall of gloom...

For what it is worth i personally think that the pall of gloom that seems to be pervading the threads here after the recent announcement of a cap raise is getting a bit overcooked.

Saturn has little choice but to raise funds if it wishes to continue operating & advance the Apollo Hill project.

Sure the timing is atrocious. But what explorer has the luxury of dictating timing when funds are running low.

It is not as if they have or do waste money. Quite the contrary.

I find it quite a ludicrous proposition for some to suggest that they should have been going slower in order to conserve funds. Almost as if they could wait out the current poor market for explorers & particularly gold explorers. What we are experiencing now could go on for years. I think it only prudent that they continue to advance the project with both drilling & studies in a timely manner. There will be no money forthcoming to build a mine & plant without those studies first being in place.

Any company that faces the prospect of raising the substantial amounts of money needed to build a new mine especially in the current environment is going to be up against it. High inflation, interest costs & wage pressures are going to make this difficult & IMO have already added to the pressure on the share price. BUT there is little they can do to control those external pressures.

Lion Selection Group now being a major holder will make little difference. If some see their presence as being negative i would caution their shareholding is far outweighed by the other long term majors on board.

I would expect the share price to drop to the issue price. It will revert to the mean in due course.