The Co needs $12-13m to complete the full 9 month drill (March...

The Co needs $12-13m to complete the full 9 month drill (March BRR). They raised $7.5m only 3-4 months ago so they will need another $5-6m, which is to be raised as part of the reconsolidation at 20c (underwritten I believe).

Last week's trading would suggest that their target is 4c for a 5 into 1 ratio (as many here have suspected). We still have at least 4 weeks until that process (no notice has been received as yet), so I expect there'll be info (initial shaft results) and a marketing push (local & overseas according to last ann) to get the optimum ratio.

Shareholders will also get to consider an Independant Expert's report and Valuation on the overall transaction.