another institutional capital raising, page-4

I don't know the take up percentage for the last placement but I imagine it was a struggle to get much interest from existing shareholders. Also the time to do a placement might have been an issue - this on seems to be scheduled to be completed very quickly and cleanly. They've got three months to do a lot of work with retrenchments, relocations and contract issues. I suspect they needed the money quickly and knew that another CR so close to the last one could stir things up with us ordinary shareholders.

IMO (and it's only an opinion) is that because they are placing @ .60 the shares will likely drift downwards towards that price. Unless of course the POG resumes a strong uptrend, which would negate the downward drift.

Good news - they have finally put Murchison on care and maintenance. More good news, it should improve the profitability in the medium to longer time frame.

Bad news, it's going to take time for the share price to reflect any improved profitability so those of us holding continue to wait.