There are two separate issues here.One that capital raising....

There are two separate issues here.

One that capital raising. This is rather modest, and I assume management had long intended to do this on a pro rata basis from shareholders. In which case when and at what price did not matter a lot.

Two. What value the project has. This has always been pretty subjective. Management got it for next to nothing - pretty clever imho. They have done their best to work it up in value, and to retain that value for existing shareholders.

Sure they might not be too sophisticated in dealing with brokers, financiers etc, but for the sub $10mm microcap I bought two years ago I am pretty happy. Banked more than 10 times my original outlay, and still hold 40%. Sure I wish I'd sold the lot at $6, but hard to detect a bubble isn't it?

85 cps however seems oversold to me, and 55, well today that looks pretty compelling to me. We got near that before Eritrea really raised it's head.

The sp and project value are both highly debatable imho. On the face of it however, whether management have been doing what they should, including looking after us is however pretty clearcut imho.

EL