Well, existing holders with higher average prices paid certainly...

So approx between $1-3mill being raised?? How does that even make any sense?? To give away up to 200mill shares at 1.6c with over $5mill cash and undrawn facilities as at last Q report to raise a meagre couple of million when company has hedging in place and with the assumption of increasing IO sales?? Will the money raised go toward 'agreements' - thus a waste of money??

If the company prospects are so good then why raise at all but if you must then why not make the raise at around the closing prices for the last week or so - aka at least at 2c?? With the options it would still be attractive. Don't know about you but this stinks.

And to think that the recent gain in sp was because the company was doing well and was undervalued - ha - now we know it was just a pump for a cr and soon could be back for a dump and meanwhile another up to 200mill shares to dilute. Nice and attractive - for some. AIMO

Well, existing holders with higher average prices paid certainly won't be making money when cr drops the sp back down. And yes, long term, but what's to stop another cr for a few $million at 1c sometime down the track??