master stroke

Todays capital raising announcement is a masterstroke in my opinion.My reasons are as follows:

1.Capital raising gets in the required money to develop the well and add to cash flow and hopefully prevent further massive dilution of equity.

2. One thing that the management has lost in the last few years is credibilty. Partnering with a company like Cape Lambert (Market Cap 250 Million aprox) would reinstate a lot of confidence in the share and the management.Hopefully bygones would be bygones and a new leaf to be turne (as most the people think is the case with the newly revived MHL)

3. Capital raising at this time when we know some very important announcements are due adds to the appeal of this penny stock.

Blue skyes ahead as some credibility is back!!!! They have the goods (or so we hope),the only thing missing was credibilty which seem to be coming back.