Ann: Trading Halt, page-9

I imagine Material will mean that the amount of funds raised will be material, ie larger.

I would suspect existing share holder entitlement and funds/sophisticates for new money. As someone mentioned in here a few days ago, they need funds if they are to develop the opportunities they have brought to share holders.

Personally, I hope they get enough to fund at least the next 12 months so that the S32 deal will have become more obvious before subsequent raisings need be considered. There is plenty of work for them to do in proving up the current opportunities in Oz.