I don't like the CR at all. However I don't think it spells trouble apart from the obvious leaks, more a case of keeping out of trouble. Mill refurbishment, tenement acquisition, money in the bank largely staying in the bank. Too many small cap miners just deplete their funds and then raise. I think it's a case of maintaining funds for flexibility and local lease acquisition, important if you have a mill. Keep those costs down, less distance the better. As was pointed out previously this should be an isolated raise, and shouldn't cause too much dilution due to the number of shares currently on issue. I doubt it has anything to do with any legal difficulties; they should right themselves in time with minimal expense. Management have shown themselves to be smart players, why shouldn't that still be the case?
AWJ Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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