cap raising at premium, page-5

Two months ago they raised $3.4mil at 9c (a premium)

Today all they could muster is $2.7mil at 4.2c (at a mega discount). On struggle street now, IMO.

Looking on the bright side, they managed to raise enough money to keep paying management their salaries (at a premium).

$2.7mil is not going far - certainly not enough to "fast track" the adit, which is what they have been beating on about since October last year

IDC is not alone.....

PNG miners face ‘serious pressure’

Friday, 23 May 2014
Alison Middleton

SERIOUS issues such as project slowdowns, exploration downturns and workforce reductions are looming as a threat to the PNG mining industry, companies have been warned.

http://www.pngindustrynews.net/storyview.asp?storyid=824235975§ionsource=s0