news, between the lines !

News, between the lines !
Amongst other possible opportunities ! Mmm ?
Gold bugs , mine visits and no shortfall shares available for them ! Mmm ??
Of the 17,654,502 shares available after the RI I know where 9,151,786 went and I only had another £2,735.00 .
Someone is sitting "just" under 3% when their new holding is added to their original holding from the last raise, here is a clue where their from ! They don't qualify to participate in the RI and could only purchase shortfall shares .

31 January 2014
December 2013 Quarterly Report Cononish Gold and Silver Project
Since publishing the results of the Cononish Gold and Silver project Development Study in April 2013, the Company has sought a number of alternatives to finance the proposed development of the Cononish mine.
As a result of continued global economic uncertainty and volatile metal prices the market for funding mining projects remains difficult. In response and with the objective of moving the project forward towards production the Company has explored various options with respect to the mine build. This process has identified a number of possible ‘re-engineering’ opportunities to advance the Cononish project whilst reducing the capital required to bring the project to production.
Amongst other possible opportunities, the Company is considering a smaller initial project, treating higher grade material through a smaller processing facility. Examination of the Cononish resource indicates a number of ‘higher’ grade zones that may be able to be mined discretely from other lower grade areas of the resource. Mining of the higher grade portion of the resource initially would not necessarily preclude the mining of the balance of lower grade material should gold prices and cost profiles be suitable at that stage but this would have to be decided under a separate mine plan.
To this end, subsequent to the successful conclusion of the rights issue, the Company is in the process of commissioning its external mining, metallurgical and tailings consultants to evaluate the options for the smaller project including re-estimating the capital and operating costs.
The results from these evaluations will be incorporated into a revised Development Study, the results of which are expected within the next two to three months.
Financing
On 26 November 2013, the Company announced a Non - Renounceable Rights Issue. The Rights Issue closed on 31 December 2013 with eligible shareholders applying to take up 90% of the Rights Issue. In accordance with the Offer Document, the Directors reserved the right to deal with the shortfall shares at their discretion and the Company successfully placed the balance of the shortfall shares to investors. As a result the Company raised a total of $830,972 before expenses through the issue of 166,174,304 new shares.
Chris Sangster Managing Director