Ann: Placement of $500,000 / Proceeding with Reno, page-10

re: Ann: Placement of $500,000 / Proceeding w... Reading between the lines:
Sounds like they have found something interesting at Black Hills but not at Death Adder. They most likely have delayed saying anything about Death Adder so they can tack it at the back end of a positive announcement about Black Hills. They keep on mentioning Black Hills for further expenditure and now Jumbuck, but not Death Adder. Just my guess, but it sounds likely. If the Black Hills results are good enough and IVR keep on finding copious amounts of silver in their drilling, it may be enough to support a significant rise in TRF share price. Time will tell though.
Regarding the timing of the new share issue, they may have had to announce it before results just because of the time it takes and delays in getting all the assays back, so that the funds are in place to continue drilling straight away and also have a stab at Jumbuck while they're at it.