My take on this is... Sophisticated raise (taking advantage of the lower share price) before assays are in.
It is a material raise, so what you lose in dilution- hopefully we make up in book price (market Capital should go up accordingly).
Money doesent fall from trees, they need someone to invest to progress drilling program.
I would take up an offer if they offer to shareholders... However I would rather them raise capital quick from sophisticated investors, announce what they are going to do... And take full advantage of the current global volitility...
However I would prefer them to raise at much higher share price, I'm disappointed they did not wait for assays or briexit results..... Seems like partiality being shown to sophisticated investors for some reason... I'd like to find out who they are!
ARD Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
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