A couple of pointsIs this tacit resignation to the prospect that...

A couple of points

Is this tacit resignation to the prospect that the Options to shareholders expiring at the end of this year will not be taken up because the share price will not be high enough for the options to be "in the money". Of course in the options were taken up the money would go to the company, but if the portions are passed in, then that means any shares issued (and capital raised) will be at a lower price.ie dilution.

A pessimist might suggest that the Directors do not see any announcements/drilling results forthcoming that might cause a share price rerate.

It will be interesting to see how the capital raising is constructed. If it is to "sophisticated shareholders" and Directors then it would seem like pocket lining. My suspicion is that it will be another JV/Company deal type capital raise.

We will have to wait and see . Good luck to all