I understand your post sarge17 however a few things are annoying...

I understand your post sarge17 however a few things are annoying me.

1. I was under impression cap raising would be in vicinity of $60m

2. It appears that no monies from option conversion have been taken into consideration. (if they have then for what?) approx $6 million

3. Increased shares will lead to approx 600m shares on issue give or take a few. More than necessary in my opinion. CC seems to preceive this as easy money rather than dilution.

current shares: 470m
options: 33m
new shares: 160m

total 663m

4. 26 cents cap raising means that the providers can once again sell for 30 cents and get greater than 10% return. Which in essence means we are still stuck on the sub 30 cent treadmill again while profit takers benefit. And they will....

5. Will hedging be used?

6. In my opinion and yes I am very very annoyed, I think too many shares, and the last few announcements appear to be a quick grab to boost sp for the purpoe of cap raising. As a holder for the past 3 years, I feel let down a bit.

7. Price rise to over 50 cents a share now depends on finding something amazingly decent or takeover. I don't think it relies on gold pour as some seem inclined to mention.

8. Final point...I wonder how many will let their options expire, esp if price falls down.

All comments welcome