The reason I think this, is due to the fundamental reason for...

The reason I think this, is due to the fundamental reason for the CR is spot on. It's to progress to the next phase of the company being profitable. It was also un-avoidable, you need money to dig up a resource this big, and to think otherwise is foolish.

A couple of hundred million in dilution and debt is not a big deal considering the value of whats in the ground in a proven resource. The problem is CR has a bad rep, due to the dodgy nature of most ASX listed companies (especially small caps). They do a CR on the premise of keeping some pie in the sky idea alive long enough to get paid a small fortune in directors fee's.

This is a professionally organised finance option (yes it caters to the big boys but good luck avoiding that in the current debt market) for the purpose of making crap loads of profit. Well done I say to the team, I'll deal with some moderate short term pain until we get digging if required. However being a futures market and the larger players know this, I think this will start to run to a market cap closer to 1 to 2 billion.

Last step will be a 10 to 1 consolidation IMO