Gravy I agree the explanation for the SPP is not correct. But if...

Gravy
I agree the explanation for the SPP is not correct. But if they actually came out and said "we were really in the Sh!t and needed the money desperately" i dont think this would have helped. Those canadian Insto's would be really p!ssed
and they may turn out to be very important to the company in the long run.

However given the information that has come out this week about the real state of the company I am now happy they did what they did, the way they did it.

Had they not made the placement before the AGM then they would have definately had to do it at a lower price and may have also had difficulty raising the money.

At least now they have enough funding to get the copper operation running properly, fund drilling, maybe JV some of the assets which should at least get the share price moving upwards.