Sentia717,
Management would have much more creditbility if they just come out and say they need an extra $10m for drilling rather than trying to keep the price up with "carefully worded" annoucments and micky mouse "free option" issues.
we are not stupid, we can see what they are trying to do.
if they just said, look, we think there is a commercial operation here and just to be sure we want to drill the c**p out of it and we will need $10m to confirm it i think the market would be much more willing to stup up the cash, i know i would.
they would have to make sure the $10m was only for the Canegrass drilling, not like FMS using cap rasing funds for more diamond drilling.
target price of $0.15 for cap raising.
thats my 2 cents worth!!!
iron ore demand to grow in the next 100 yrs, page-13
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