They have operated the pump and dump with few institutions to a "Textbook" level. ASIC should really start investigating this ethically questionable business, are the funding really towards clearing debt / further exploration? Or just funding the director's salary and luxurious lifestyle?
There is absolutely NO need to do another cap raise when the company have held approx. $4m cash to clear debt and conduct drilling.
All the REE clay are exposed on the surface and doesn't even require deep diamond auger to drill deep for the clay outcrop, if you just look at the photos below shared by the management and the pumpers here.
They have operated the pump and dump with few institutions to a...
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