the capital raising will be for "working capital purposes" -...

the capital raising will be for "working capital purposes" - just to tide over the short term capital requirements.

the company has mentioned that it is looking for $35m to establish a mill - and that figure seems to make sense - but watso thought that the company had already bought something.

at the end of the day, the final package, will probably be a combination of debt, and equity - with some mezzanine financing - but that is further down the track, and not relevant to the present capital raising.

watso's holding is probably worth about $1000 - and could not care less, if the whole lot collapsed, or if it tripled in value