corporate activity

Guys,

Today's announcement is interesting and raises a couple of questions and possibilities.

Firstly the setting of the minimum price (15c) for any raising, seems a pretty confident stance. I hope this is because they have done their homework and have a solid pipeline of investor $$ identified, in whatever form.

Scenario 3 - though the most dilutive looks to completely clear up the Hampton/North issues. I think this would make the whole MNC story a whole lot clearer than the current options to take options arrangements the market is currently having to digest.

No mention of the divestment of non-core, legacy MNC Australian/African assets. Surely there are a few bucks there that could lessen the dilution?

I don't like the fact it has taken this long to get to this point, the $200k extension to the JIC option is just money down the toilet.

This is kinda do or die guys in my opinion - if they pull it off we are on a flyer. I'll be voting yes to all the resolutions.

Straws - see you at the EGM? I promise I'll be there this time.

GLTA