I have to disagree when it is said retail holders can just buy...

I have to disagree when it is said retail holders can just buy at 6c and don't worry about not being included in a share purchase plan. Basically this management has done the worse cash raise that I have ever seen with any of the stocks I have owned.

i am certain that the majority of those offered the free options have disposed of some shares at between 8 to 9c because of receiving free options at 7c. This raise has caused the shareprice to drop to the 5-6c range. Concerns with funding compounds the issue.

As for whether the options are subject to shareholder approval, it clearly states that only options related to tranche 2 for management which is the $900k worth of the raise or ~13m shares, will be voted on at next month's meeting.

I understand that it's too late now but surely if management proposed a capital raise for the entire $10m US that would allow them to construct the phosphate plant and satisfy IDC loan, then I believe it would have been well supported. About 220m shares with a 1 for every 6 shares held offer with options at say 14c strike or even without options, would be well supported if it guaranteed the construction of the phosphate plant.

i don't agree that the options were required as has been suggested. It seriously casts doubt on whether management gives a shit about all shareholders. I just don't believe we needed to be put in this situation.

Maybe my logic is warped about what I have said but it's sad that some long-term holders have been forced to sell because of the doubts created by this terrible raise.

I have no idea which way this will go in terms of funding. Maybe Lindsay was pushed around by FFI and OTC and then acted out of desperation. One of the worst things was the partnership between those 2. As for what's going on with the cornerstone investor, I would love to hear whether they are sticking around or selling or if they have more sinister intentions.

For what it's worth, I'm sticking around because I'm hopeful the Angolan government gets as involved as it should. No idea whether they have plans with bigger players that doesn't include us. A lot of work has been done in piecing this together and I hope Lindsay or whoever is experienced at funding negotiations, gets this done before July.
Would definitely give a much needed boost to our shareprice. Good luck to all holders.