idea to raise capital

Hi guys

I note today Tanami Gold plan to raise 63.7 million through entitlement issue.

Just wondering if this is the kind of thing Marion Energy might want to do.

It would seem a good idea if it could be carried out.

Here are the details to Tanami plan.


15 July 2010
TANAMI GOLD NL
TO RAISE $63.7M THROUGH ENTITLEMENTS ISSUE
Key Funding Initiatives to Support Objective of Increasing
Gold Production to 200,000oz pa within two years
Key Points

Pro‐rata renounceable 6‐for‐5 entitlements issue (Issue) at 1.5 cents to raise $63.7M

Issue to be fully underwritten by Tanamis major shareholder, Allied Properties Resources Limited (APRL)

Proceeds to be used to retire debt and accelerate exploration at the 1.06Moz Central Tanami Gold Project

An in‐principle funding arrangement with APRL to underpin development of Central Tanami as a second production centre

Tanami to undertake 1‐for‐30 capital consolidation post‐completion of entitlements issue.