ok, I think we agree that there's mixed experience when it comes...

ok, I think we agree that there's mixed experience when it comes to capital raisings and there are a number of factors driving what the price might do afterwards. So the devil will be in the detail of the raising, the fundamentals of the company, what the share price has done in the months leading up to the raising, what the money will be used for (i.e. to drill in hope or in our case, to prove up what is quickly becoming a world class and growing resource) and the prevailing market conditions. But we can't conclude that the price will automatically get hammered.

Importantly, I think it's worth people understanding the quantum of any potential capital raising too - which is another reason why I don't think the potential of a raising is driving the price. The next capital raising (again if we don't get taken over before hand) will be relatively small. I would have thought in the order of $10-15m. That will pretty much be enough cash to prove up a doubling of the resource and get us through to development of the mine. So there is absolutely no suggestion that we're looking at a 1:1 issue here, or anything even close. Even if the offer price was only 10c (which I'd be spewing if the Board went down this path), we're probably still only issuing around 100m shares.

The Board will without question not be raising the CAPEX to develop the mine now. So any raising will be small.

A point worth noting!