When the price is at these levels, sophisticated investors...

When the price is at these levels, sophisticated investors generally pay a premium so as to encourage other investors, they don't get a discount.The company may have to sweeten the deal with options, but my guess is they'll raise $1M @ 0.006 - 0.007c.

I concur about the cap raise answering this question; one can surmise Hanking are opportunistic, and aren't going to offer anywhere near fair value unless they have to. Our only hope here is that they get lucky with the drill at Mt. Gilmore, because for a while now the ASX has lost interest in spec stocks that aren't finding large economical deposits.