(Tongue in cheek!) ... They are either not too confident in the upcoming drilling, or they are super confident in the upcoming drilling and need to get all the "boys" some cheap shares with a low ball CR price before they show the market what they are sitting on.
Lets hope for the long suffering S/H's that its the latter! I expect it is the latter, but still not particularly impressed with their procedure.
10 day VWAP is maybe around 3 and a half cents ... If they raise at 3 cents or less they should get a big stick to the bum!
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