Sitting on a near term producer at 70,000 ounces steady state...

Sitting on a near term producer at 70,000 ounces steady state production at $3,545 AUD per ounce.
Revenue alone will be at $248,150,000 per annum off those figures at a MC of $35 million. ( pending it moves forward )

Interest rates at commercial rates is huge, so capital raises of course these days are extended to offer more value to sophisticated investors taking on more risk at the current commercial rates.
Not a problem with 1.3 cents at all IMO for the raise to be non objective, it is expected in this financial environment.
Probably in the next 2 months off an actual "announcement" regarding and update funding arrangements that are now agreed / term sheets etc.
So like people who are for or against the project, I also await actual developments to see where the bird lands.

I am sure even my online nemesis would agree @Oldgoldminer1, if you are a mum and dad investor making plays on Micro Cap stocks, then whining about dilution that is utter stupidity.
You should be investing as a lower net worth individual, more stable and currently operational equities not Micro Cap Stock gold miners, particularly when the market average is less then 5% of actual explorers turn to "producers".
Whoever is a mum and dad investor following that strategy is literally gambling the market as opposed to long term value investing given your portfolio size.

Similar reference would be, you are a mum and dad investor feeling the crypto space will go places, and you avoid majors like Bitcoin / Ethereum etc and you go on an ultra low market cap Alt Coin

Could not advise against that any more if my life depended on it.

Sorry for the morning fire, just hate seeing the "mum and dad" investor line thrown out in the micro cap space, regardless of sentiment of WWI, I'm sure most people on here would strongly agree its frustrating to see in a variety of online forums.