Yep you're on the money Spitfire84 in loading up using the...

Yep you're on the money Spitfire84 in loading up using the top-up facility and full marks to Nathan Mitchell and his board for enabling retail shareholders to apply for additional stock should they choose instead of gifting it to institutions and clients of the underwriter.

Para 2 of the chairman's letter is worth reading, where he says:

"Following a significant increase in rig utilisation and tender activity witnessed in the first quarter of FY18...............preparation and mobilisation of unutilised rigs..................and expected contract pipeline requirements..................."

Seems to me like from FY19 will see a wall of cash coming in from 4 and 5 year contracts as these drilling rigs are mobilised so I'm expecting an avalanche of positive announcements and positive cash flow for a few years from these guys.

We're coming out of the trough of the mineral exploration cycle right now so the timing of this capital raising for investors is perfect.