capital raising, page-58

I seriously don't get the overwhelming negativity here.

Where exactly has management taken the wrong turn?

Mt Peake is on track, Mt Hardy was (and still is) worth the money to explore. They're an explorer, if you don't like them exploring, buy a blue chip.

Mt Hardy needs more money for further exploration.

The cash in hand is set aside for Mt Peake and obviously management wanted this coin to last through the year.

Mt Hardy (for better or worse) has changed this, so they're raising $1mill now to cover the costs and keep everything else as per their intended programme.

Would you prefer they move foward their larger captial raise to now? Perhaps you would all like $4mill to be raised at 7cents? Lighten up everyone. Lots of you are living in the past. If they were to raise at 13cents later in the year you should be happy with that. I don't care if it hit 20cents a few months ago. And I think management are doing the best they can with the tools they have.

2 options:

1) Sell your shares, if resource stocks get worse this will drop sub 7cents if Mt Hardy doesn't generate some excitement. If you think the Chinese really care about a $1mill capital raise that they were not included in then you are very naive. I reckon they think be more concerned with the multi million/billion dollar final product they have a large slice of at Mt Peake.

2) Realise you bought this as a long term investment and HOLD. Best case, Mt Hardy comes up trumps, we raise to sophs (or the Chinese) at 10-15cents and start our flight into blue sky territory. Worst case, Mt Hardy comes up spuds - we sit at 7-9cents and we raise at the mercy of the Chinese.

I don't see any alterior motive here. They are not withholding information from us. The sky is not suddenly falling. Make your choice.

Mine remains as a Hold, then top up once the dust settles. Hindsight could show that selling, then buying may be equally rewarding. There is risks for both. Best of luck to all.