Just giving the shareholders more time to participate and raise...

Just giving the shareholders more time to participate and raise their funds to participate in the offer. For example I was waiting on a sell order on some other shares to come through..glad I waited because I got my price in the end. I would rather established holders take advantage of this offer rather than the Company decide on a "sophisticated investor" placement through Pattersons or the like.

Small junior explorers/miners can't run indefinitely without progressively raising capital for exploration/working capital. They can't run on hot air!Sure it would have been nice to still have RAV8 producing positive cash and it would also have been great if Burnakura had come through and help provide funds but that was not to be.

If you buy into junior mining companies bringing on projects you have to be prepared to suport them (of course based on your judgement on the project and the quality of management). It is a pitty that junior miners in general have been the subject of poor sentiment largely due to risk aversion thanks to the GFC. Funds would have been a lot easier to raise if things had been rosier and plenty of share market profits were flowing back into the speculative & riskier junior mining sector. However, these tough times are when opportunity in created if you can see through the haze.

It is good GZ that you had a chat to Steve and clarified project timings......2012 will be on us before you know it or had you not noticed how time flies when we get to our age?