I'm gobsmacked management are raising at 55c when they should...

I'm gobsmacked management are raising at 55c when they should have used all of the hype at the beginning of the year to raise at $3.00-$5.00 a share (when a few broking houses as well as Diggers & Drillers were recommending it), maybe 10 million shares. That $30-$50 million would have gotten them through the next 2-3 years before having to raise the capex required to mine.

Don't say they didn't have enough time to contemplate this as it traded in this range from January 2011 - May 2011. More than enough time to complete their cashflow requirements for at least the next 18 - 24 months.

Now because they didn't have the vision all shareholders are losing out, including management. Vision is what is required to see the bumps ahead, you either have it or you don't and it doesn't matter how good the quality of the project it is, bad decisions or lack of decisions can have a detrimental affect on a project and company.

DYOR

(I was a holder, no longer)