bugger...This was even worse then my expected case mentioned...

bugger...

This was even worse then my expected case mentioned earlier... lets hope that the remaining 8 million they are chasing comes through at a much higher price then only 9 cents.

It would be interesting to see how they arrived at 9 cents because i doubt 9 cents would be the average price for the last 2 weeks which can often be the calculation method for capital raising...

But out of that report, the line I disliked the most was:

"A number of directors of the company subscribed for shares under the placement and allocation of these shares is subject to shareholder approval"

Simply the directos looking after themselves... why not grow a pair and prove to market the quality of the resource by purchasing your shares at a fair price or premium to the current sub basement price !!!