buyer at 25c, page-22

Warnie

Why the hell would the directors want to raise $14.6m and create so much dilution when in under 7 months time they would expect to raise $38m from the exercising of options?

I would have thought that $5m would easily cover a 7 month aggressive drilling campaign and this funding could have been raised as an offer to existing shareholder at a premium of 10 cps.