I'm surprised at the general shock from posters- what was...

I'm surprised at the general shock from posters- what was everybody expecting??

This was almost precisely what I expected (as posted) and hoped for (note in the past I have been way off with expectations). It would have been nice to raise at 11 or 12c but there is always a discount?

The majority of the raising is also done via the rights issue to current shareholders with an option attached so there is really only a little over 10% dilution for those participating. And we have "firm commitments" for the placement in what is currently a difficult market to raise capital.

If we are able to meet a conservative portion of our targets then I expect the OGXO options will come into the money (which will in turn raise even more money and profit loyal holders).


8.5g/t average grade and significant upside of that figure to be targeted early on is a testament to that.

Not overly dilutive to those not wishing to participate and should take us right through to early production.

Two Directors purchasing 2,000,000 shares ($200,000) is a pretty strong vote of confidence. That is a significant amount for anybody.

Great to see Canaccord take a further interest in the company. We can look forward to some more coverage on their behalf to get this story out there.

Don't get me wrong, a capital raising is a capital raising but surely this was foreseen? What were posters expecting? (Genuine question)