I am also in full support of this. Firstly, if you don't like...

I am also in full support of this. Firstly, if you don't like CRs, then don't invest in companies that are years away from making money - especially a junior explorer/developer in the mining sector. It is only a matter of when, not if, the next CR comes along. CXU runs a tight ship (the CEO flies economy from Sydney to Perth for his very regular trips there and stays with his parents) and doesn't do any paid media promotion of the company - he is a one-man PR machine for all he does promoting the company off his own back. Look at where CXU is compared to TOE who have a far larger resource - that is an example of a lifestyle company if I have ever seen one - CXU is the polar opposite.

So when the cash outlays come for CXU, it is for value accretion activities like the current 25,000m drilling program which even in the early stages is a success. Jono has more drilling planned for next year and the CR now will fund that into the first half of the year and through the WA election. What seems like a brutal discount is only if you base it on the last closing price 2.5 cents. VWAP over the last month or so tells a very different story so the recent run-up has helped to get the SP higher for the raise. Sure, maybe it could have been better by waiting a month considering the signs of improvement in the uranium sector, but no one has a crystal ball so the CEO made the call to do it now - that's what he is paid for.