massive over reaction!!!

Here are the numbers:

Total Subscriptions - $6m (Which includes stages 1 & 2)

Total Received from Stage 1 - $3m (80m shares)

Total Interest Paid to Shareholders $1.2m (6m * 20%)

New Capital Position = 376m shares (294m + 80m)

New Cash Position = $22.1m ($5.3m Cash on hand + $15m R&D Refund + $3m subscriptions - $1.2m Interst)

I don't think that the above reflects the current share price, although...

The real question is how much debt are we holding, I see from the last Quarterly Report this was $10m + and additional $3m (I also note from the Half yearly report we had about $9m of trade payables, and the convertible notes

Questions need to be asked now what is the plan for this company, are we paying down some debt? Are we developing Pearce? Are we selling non core assets? Im tired of the same company updates which provide little details of the real direction and financial position of the company.