To work out how you are going to vote on the Cap raising, you...

To work out how you are going to vote on the Cap raising, you need to work out why they need to raise capital.

1) Extremely agressive drill campaign. This is eating money fast and whilst there are people willing to invest, because with all the turmoil in the world, you dont know eher you can secure your next injection of capital.

I know that we really haven't seen the fruits of the drillers labour yet, but the resource figures are starting to get into the limited downside area. The next upgrade hopefully will give us at least a 35% increase in resource which will be around 120MT. I reckon 150MT would be nice. If we get this, all of a sudden, we are on the iron ore world radar.

2) Ward off Quasi take over. I dont believe it is in the minority shareholders interests for PMM to get anymore control of GWR. Do PMM have a master plan. I'm 99% sure that our directors do and you know what, they are major shareholders too and they want to make a buck just like you and me. What is good for them is certainly going to be good for us.

Minor share holders hate cap raisings. It's human nature with ownership and possession. They think they are being robbed. It is an essential part of a junior companies development. We know we have a good project so let the current board free up the funds to drill the bejesus out of Wiluna and get us all rich. I would hate to think that the development of the project was stunted down the track due to some funding issues. Besides, if they issue the shares to a big overseas player, it could do wonders for the SP. Especially if it is a financial insto, becasue then they start the big PR wheel that share prices seem to love.