Ann: Interview with CEO regarding mining at Rose of Denmark, page-73

If the results were good (able to demonstrate that mining is cash flow positive/further good drill results) wouldn’t common sense suggest that they be released prior to undertaking such a highly dilutionary capital raising? Another half cent or so increase in the share price could have allowed for a similar monetary injection but with half the additional shares being issued. Maybe, as I alluded to in an earlier post, they had no choice as I estimate their cash levels would be down around $200k- $300k at this stage.
If, as others have suggested, those participating in the raising are privy to information not available to the market in general then probity matters come into play. I have a high regard for those at a senior level that I know so doubt that would be the case.