assays confirm presence of ree, page-37

"The small Placement to Areva in June '08 was essentially free cash at 13.5c since the JV didn't eventuate."

Since when are equity raisings ever for free?

I would be pretty annoyed as a PEN shareholder actually, the upside has been limited by bad past decisions. How else did they end up with billions of shares on issue? Take a company like PNX (which I don't own). They took their time, did their planning, and are now in mining with very minimal dilution.

FTE meanwhile just burn through the cash like there's no tomorrow and have capital raising prices which have decreased to 10c.