I see your interpretation millipede ... you may be correct .......

I see your interpretation millipede ... you may be correct .... that would be a reflief if TH induced cap raising is simply the pre announced Hebei cap raising / share issue @ 40c.

From the Hebei announcement of 23rd May
"Subject to successfully securing the US$161M Project finance, relevant government approvals and processes, a placement to HBIS of 6,250,000 shares, at an issue price of $0.40 per share, and the grant of that number of
options that would, if exercised, result in HBIS owning 19.9% of the Company?s issued share capital (as at the date of this announcement that number of options is 8,121,300) with each option being exercisable at $0.50
and expiring 24 months from the date of grant. The grant of the options is subject to shareholder approval. Other than arising from the exercise of existing options or as may be necessary to complete the exercise of the option to acquire the Project from Kircher Mine Development LLC, Richmond has agreed not to issue any further securities during the ?Exclusivity Period?. The Exclusivity Period shall expire on 31 August 2011, when signed loan docmentation shall be in place, subject to earlier milestones also being met."

So the only share issue that has occured since 23rd May which still meets the above deal, were when shares were issued to settle the acquisition of the BV project;

"21 June 2011
SETTLEMENT OF ACQUISITION OF
THE BUENA VISTA IRON PROJECT The purchase price of US$6,000,000 was satisfied by the payment of US$3,000,000
in cash and by the issue of 6,187,092 fully paid ordinary shares in the capital of Richmond."

So is the imminent cap raising announced yesterday as the reason for the TH, merely formalising now the previously announced "placement to HBIS of 6,250,000 shares, at an issue price of $0.40 per share" ????