issues aside what is the upshot of the raising

AAM have just increased their cash position by 1.1 million, thus taking cash at hand to say 4 million.

the entire 10 million that is required, as per coy estimates, has not been raised as yet.

so why raise this proportionally low amount now and not the whole amount?

I speculate.

Perhaps the company is looking to build a stronger cash position through whatever short term means it could prior to the 'gold investors forum' to be held in Sydney this week (14 May).

I am almost certain that John Williams will be at the forum (he said he was going to be in Sydney this week and has a booth at hte forum).

So to add 'punch' to the company presence at the forum he is going to:

A) restate the coys reserves and resources
B) state the no debt/ no hedge cash position
c) state the ownership of a CIP mill
D) Announce the schedule to mining together with costs

Perhaps also he will announce a financier or the dreaded SPP as many have said they don't like.

Is this too much to ask for???????

I would be:

A) Delighted with such decisive action
B) Surprised if the market didn't react positively despite the recent bungled cap raising

Thoughts guys?

GC