Without fail there's always doom and gloom when it comes to cap...

Without fail there's always doom and gloom when it comes to cap raises. I never understand why, companies need cash to invest in their projects and ultimately maximise their return to shareholders. From some of the things I read on HotCopper I really get the feeling that people think money grows on trees and stocks can only go upwards in a straight line sometimes!

If this is actually the cap raise structure then I am fairly happy. While I do sympathise with the holders that have just jumped on board (especially those in the 3 cent region), I think management have played this out as best as possible.

I'm guessing this will only be offered to instos/sophs as I imagine it was thrown together pretty quickly as the share price pumped. They've capitalised on the situation to offer a placement in a way that minimises the effect on holders - we were due a capital raise within the next 6 months, the $4m plus the ~$2m current in the bank will give us MORE THAN ENOUGH cash to sustain all exploration avenues for the distant future. If management had waited until we desperately needed the money for all we know the SP may have been sitting at 2c (especially with current macro factors) and this raise would've been at 1.7 cents... I know what I prefer.

I think it's worth reminding everyone that only 7 days ago (before the pump) we were trading at 2 cents on the dot... the fact that management have been able to gather support from the 'smart money' guys at 2.5 cents is a fantastic sign for me.

We'll get this capital raise out of the way, as well as the inevitable drop in the share price. Afterwards, we'll have more than enough cash in the bank, big money support, an RC Drill Program on high priority targets commencing, regional lithium sampling to conduct AND a new highly contested tenement to explore... not to mention the fact this is ALL in the Karonie Project and there are other exciting projects kicking off too.

All in my opinion and no hard feelings to any holders who feel differently. Best of luck all.