Doing a capital raising this late in a drilling campaign is actually good news. I'd say they're doing a placement to sophisticated investors and they'll want to make sure those participating in the capital raising don't lose their money. In the near future they'll release a positive announcement from Greenland and/or Mount Thirsty drilling. The share price will spike on high volume and the placement holders will make a killing. Which means they'll probably come back again for future capital raisings.
Ann: Trading Halt, page-36
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