merger of igs and santa fe gold corporation, page-5

Djarra4,

As part of the merger, International Goldfields is to raise A$2 million for Santa Fe within the next five days. Santa Fe, in turn, said it will use such proceeds "to secure Santa Fe's option to the Mogollon project and for general working capital purposes."


I presume IGS will need to raise this money quickly by way of an institutional and sophisticated investor placement.

I hope that they have a later placement for all retail holders.

In the meantime, the share price has harly moved with the announcement and looks cheap