Do you think shareholders should be able to ask why this placement took place, and expect an answer, not a bare legal answer they have to give to satisfy the ASX, but one as working for shareholders best interests.
seeing their own expected cash flow for the next quarter is $294k, at this rate the money would last over 18 months, pre placement, So is it justifiable.
So we have to assume they needed it for "acquisition opportunities" as in announcement so we will keep a close eye on this to see if it happens, obviously by having the money now something should be very close.
look cash burn is low, a plus they did get native title and them granted, a plus hopefully they are at present doing soil samples, results due???? have we been told this? look I am pretty confident we will do o.k. here, we surely have ground in a very good area.
this company is like one of my nice puppies, has potential but needs to be on a short lead for now.
ARO Price at posting:
0.6¢ Sentiment: None Disclosure: Held
