I think you are probably right there BR.
$2.5m to be raised from sophisticated & professional investors at $0.01 per share and another 250m shares on issue. Also 125m new 3c options.
1/3 of this has already been received and issued (as per Dec 16th announcement) so this is the final 2/3s. So why the trading halt?
From Nov 3oth "The Company is also pleased to announce it has secured commitments from sophisticated and professional investors
(including long term supporters of the Company) for a placement of 250 million shares at $0.01 per share (along with
125 million new options (3c, Nov 2018)) to raise $2,500,000 before costs.
The funds raised will be applied to the initial acquisition payments in relation to the proposed acquisition of a 95%
interest in Morning Star Gold NL, the commencement of the program to restart the mine with the management team
already in place and ready to start, and to working capital.
The Placement is to be completed in two tranches with 1/3rd to be completed shortly and the balance subject to the
successful acquisition of Morning Star Gold NL or its assets."
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