what is jmls capital raising for

JMLs has no debt and good cash flow so what is the reason for the capital raising?

Quote from JML post

"Very strange. From the last quarterly......
We had $17mill cash at the end of last quarter,
$38mill debt was paid, leaving us debt free.
Considerable cash was expected to be poured into our bank account from March sales - stated in the quarterly - so what happened?
I was hoping for drill results - my gut feeling has been telling me that Bentley is going to be much shallower to ore than Jaguar was, so there should be a drill hole or 2 completed by now.
Could it be good results & a decision to fasttrack Bentley?
Shouldnt be, because we would be better off with an announcement concerning the drilling, and then the placement at a higher price, wouldnt we?
An acquisition, maybe?
Whatever it is,it was unforseen last quarter, or they wouldnt have repaid the debt.

We should know tomorrow.


GZ "

I doubt whether TTR will seek a capital raising (JML as underwriter) just yet but if Jabiru are looking for an aquisition now would be the right time to strike at TTR. They were interested enough to take a 10% holding at 7 cents per share (18 months ago} and currently they could probably get a controling interest with any reasonable offer given the current share price of under 3 cents. Phillips River is virtually ready to move to the BFS stage. At current commodity prices the BFS will be very positive.

I will be watching for some defensive buying of TTR shares over the next week or so - this will give an indication whether it is in Jabiru's sights or not. TTR has some very loyal long term holders.