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massive coal seams, page-4

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    "Perhaps someone else can clarify and give a reason as to why the company was doing the ring around."

    The $28m is quite a big amount to fill.

    It's not the end of the world if they don't raise the whole amount:
    "Assumes $28m Priority Offer  and Placement fully subscribed. In the event the minimum subscription under the Priority Offer and Placement is raised ($20m), $7.5m allocated to ‘Future
    opportunities’ would reduce to zero with the balance of the adjustment made to ‘working capital’ and ‘transaction costs"


    Use of Funds
    ƒ Acquisition of tenements from PWR A$8.5m
    ƒ Exploration / resource definition / scoping study A$7.6m
    ƒ Future opportunities (including due diligence) – Mongolia and Indonesia A$7.5m
    ƒ Corporate administration and working capital A$2.6m
    ƒ Transaction costs A$1.8m
    ƒ Total funds raised A$28 0m

    Source: slide 17 of the latest presentation
 
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