I believe this is a prudent move by management given the recent...

I believe this is a prudent move by management given the recent run the share price has had in the last few weeks.

Sure the share may drop in the near term to the cap raising levels, however, it's now effectively placed a floor on the share price of 36c, which is not bad considering we were trading at circa 16c around 2 months ago. Chances are the share price would have retraced in the near future anyway given the spectacular run its had recently. Now EXR can consolidate at these levels for a period, while also taking the opportunity to raise funds which will "materially" expedite the exploration & pilot production activities.

In 2-3 months' time once the cap raising/SPP process is complete, I would be most surprised if the share price was not yet into at least the 50c price range given the ongoing exploration program and other activities which will now be turbocharged via this fundraising.

I've got a truckload of shares in this baby already but I will definitely be taking the opportunity to participate in this SPP. AIMO and GLTAH!