If we ignore the timing and the current SP imo this seems to be...

If we ignore the timing and the current SP imo this seems to be a good raise.

1. Minimal dilution, only 6.6m added to the free float. This can be easily absorbed on any good news.
2. ~5% discount to the SP. Seen a lot of recent raises done at 20% to 30% discount, some with oppies on a low strike.
3. Appears they the raised enough to comfortable cover costs

I haven't seen OLY do anything that makes me think they are a lifestyle company. I think OLY is quite active on the exploration front, they just need some luck in finding something in the ground. Also, they haven't diluted the register much with each raise, always done at decent price and this is no exception imo.

I'm curious who the local "investors" (would it be a broker??) are purchasing at only a 5% discount. If my understanding is correct on how this works, they wont be off-loading below 8.5c otherwise it will be a loss. Are they taking this at 8.5c as they expect or know this will go up much higher... let's hope so.