a 30% placement at 12c would raise nearly $3.7m minus costs to...

a 30% placement at 12c would raise nearly $3.7m minus costs to go drilling properly. The key for me is whether the entity involved bring any exploration experience to the table and can replace the Hartley’s folk on the board, in which case, they will have served their purpose and can shuffle off. There’s clearly no other point in them being here. GTE may be able to afford an office again. I would personally like to see JL back on the board in that scenario, but never again as CEO, he’s a great geo. If the placement is just to a passive investor, I’m not sure I will rush back in with what I’ve cashed in recently. I doubt there will be a entitlement offer component, but if there is, that is a little time consuming and will allow plenty of time to buy some back.