Not entirely unexpected. As per my previous posts, management...

Not entirely unexpected. As per my previous posts, management were always going to be prudent given the mistake they made with the timing of the last cap raise. I would of preferred this announcement just as fraccing starts with a closing date after some initial results known. Still a smart move imo. Gives plenty of cash to work with and if, worst case scenario, arrowsmith doesnt fulfill expectections, they can batten down the hatches and progress other project without need for dilution at a very low share price. Directors taking up the offer, as will I.