I'm in, page-22

Small Market cap and low shares on offer but I was a little concerned about the cap raise.
Purpose of the offer as below.
It doesn't give them much to use for exploration and also doesn't leave them much working capital.
I fear this maybe repeated sooner rather than later but will gladly stand corrected.
W

1615769_2
10
5.
PURPOSE AND EFFECT OF THE OFFER
5.1
Purpose of the Offer
The purpose of the Offer is to raise $1,149,269.
The funds raised from the Offer are planned to be used in accordance with the
table set out below:
Item
Proceeds of the Offer
Full Subscription
($)
%
1. Glendambo Project
34.80

Data base compilation and
modelling
$60,000

Field Surveys and logistics
$80,000

Geophysics
$100,000

Reconnaissance Drilling
$160,000
2. Payment of accrued creditors
165,000
14.36
3. Expenses of the Offer
1
96,923
8.43
4. Repayment of loans from Directors
325,000
28.28
5. Working capital
162,346
14.13
Total
1,149,269
100
Notes:
1.
Refer to Section 8.9 of this Prospectus for further details relating to the estimated ex