I doubt it is for Moolyella. They already raised $ 1 mil to...

I doubt it is for Moolyella. They already raised $ 1 mil to cover all exploration everywhere through to production at Second Fortune. Two thoughts come to mind:

1. PYBAR deal is NOT looking good and so they think, let's raise further cash whilst we have an improved share price. Also, finance opportunities in this sector have improved considerably and maybe EXC /new financier are considering EXC finance for the project which would result in EXC earning $ 13 mil per annum , instead of $ 6.5 mil per annum doing it with PYBAR or any other partner... 12% finance interest pa is better than paying PYBAR 55% to start with.

OR

2. PYBAR deal is progressing very well and PYBAR want in with a placement. That sort of outcome would give clarity to a "done deal " and would see a new high in the stock, closer to 10-12 cents pronto