Yep agreed Morley. I'm sure you've also noted that $1.2m isnt...

Yep agreed Morley. I'm sure you've also noted that $1.2m isnt exactly ear marked for growth purposes (working capital and the investment in "capacity, quality, cost reduction" etc).

I'm sure/hope they explored many other avenues prior to tapping everyone at such a rock bottom price but maybe that potential wasnt there?

Anyway I also think a significant issue is management's lack of skin in the game. When you dont own shares yourself/or have a limited holding (other than John), I think its easier to pull the trigger on capital raising rather than show patience. It also really tests an investors trust when you tell them how good an investment opportunity is but "by the way, I'm not investing myself."

And finally from a strategic perspective, when the company has talked up the potential of Zinclear for so long and pushed it so hard to investors then I believe they should have stuck to it - soley. It's all very well to talk about diversifying your company revenue from a product perspective - but when cash is tight, the market sucks and your lead product is showing good potential then you keep it simple. I admit, I don't understand the zirconia opportunity yet, but at 1.3c a pop it better be damn good.