I can understand they were running out of cash and needed some...

I can understand they were running out of cash and needed some funds hence the last CR. But now with over $4mill in the bank, you gotta wonder is this current one for $400k really necessary?

Obviously the SP is going to go further south due to disgruntled holders and clients of Patersons or whoever wanting to pick up a bigger piece of the pie but we've got to ask ourselves, what the hell is this for otherwise? No real explanation on what funds are needed for or what other funds have been put aside for.

No way I'm gonna bother pouring more money into these crooks for a RI that (probably) will never be converted. When was the last time you saw a small cap miner that had options converted due to SP performance? I'd rather just stick to the heads and make a decent profit anyway if it goes back to 7c. Around 150-180% profit from these levels, not bad if you believe 7c is achievable.

Personally I believe a RI means we'll never see that exercise price again as is the case with 90% (at least) of small caps. Only going to DT this when interest comes in. I have a small core holding which is in the bottom drawer with the rest of the crap that I believe will never see light of day.

I'd be more optimistic if we had a half decent management that didn't do everything opposite to building a business. Like seriously opposite!!