rights issue, page-5

Dave,

you will be entitled to buy 2 new shares for every one you hold, at a all-costs-inclusive price of 1.3c for each new share.

So you can buy 2 x 10,000 @1.3c = $260, no more to pay now or later.

plus you get 1 new option for every 2 shares subscribed for, at nix cost. ie subscribe for 20,000 shares and get 10,000 free options, which you can sell on the ASX, if so desired.

It all seems extraordinarily cheap, even to a bottom-feeder like me, but I suppose the alternative was that the company would have been suspended from ASX-trading and placed into voluntary administration with the bank balance below the level needed to sustain their ASX/ASIC/ATO reporting/compliance costs plus the ongoing QLD/NSW government charges/expenditure commitments on their Aussie projects.

R/happy
R/happy