Thanks Rex...hmmm sounds like a biggie.Based on existing shares...

Thanks Rex...hmmm sounds like a biggie.

Based on existing shares alone, the rights would raise about $7.5M.

Assuming placement shares also take part in the rights issue, could be a VERY significant raising depending on how big the placement is.

Is this a sign that bank finance has been sown up? Could be.

Either way, it will keep the project progress chugging along nicely.

It is also a good idea to reward existing shareholders at a lower price that placement...strange that placee would agree to a lower rights issue price that placement price though, irrespective of whether they also get rights...its a good sign imo.

Cdchi1