Ann: Trading Halt, page-23

At a guess, TIE have for, whatever reason, decided they would rather fund the majority of the projedt by using shareholder funds, instead of debt.
An interesting choice and somewhat unusal, albeit, the likes of AVB did it, and then got T/Oed for their efforts.

I don't think the raise price is bad at all, in the sense that the dicount is not that large considering the size of the raising (approx 17%.... WGX just raised the same amount at a slightly lower %, and they are based in W.A).
Hopefully this means TIE require no hedging and can move forward at a faster pace with the development, whilst also not being constrained by slowing drilling down.

That being said, I dislike the raise from the perspective that I did view TIE as being fulled funded. Though... in saying that, in the past, developers have consistantly under raised what was required, even CMM had to raise during their development (they it could be aruged, they chose to, at the rigth time).

Or perhaps the government delay in regards to the mining rights, has meant Taurus could not sign off on the debt facility?

Hopefully the board are very very clear to the market what is going on. As I really dislike not understanding key decisions.