If you check the an 09/10/09 Notice of meeting page 8. you will possibly find info on this rights issue and purposes of the funds.
I doubt that it will be a "different" raising than what has been passed by vote at the recent investors meeting I mention above.
Re funds in the bank, no RAU don't have 4 mill plus in the bank, It is now much lower than that.
Some may recall my comment the other day re the low (imho) share price and how it annoys me that we are about to have dilution now when the price should have and could have been much higher. Its not large dilution, but still dilution. Every cent the share price has fallen costs the company big bucks in potential funds from the 150 mill shares. (if that's what it is)
I am only assuming this is the 150 mill placement, I would not really have expected a TH for that, as it was passed by vote etc etc, but can't figure what else it would be.
Like everyone,I am disappointed to see more dilution, but some things are a necessary step to get where one wants to go.
BIG Price at posting:
3.4¢ Sentiment: LT Buy Disclosure: Held
