"Perhaps someone else can clarify and give a reason as to why...

"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