Ann: Symbol To Raise A$2.16M In Placement And Entitlement Issue, page-16

Having raised more than was hinted at in previous day/s, this obviously doesn't look great for holders. They have just added ~25% shares to the company and now half the amount of total shares in 2c oppies. Not to mention the extra oppies to Noble the other week (20mil) CPS and other brokers (~40mil, plus fees from the raise).

I'm confident the drills will uncover plenty of mineralisation, but they need to get the current operation making money ASAP.

At current or lower share price it looks enticing for the patient, especially now that the short term financing has been sorted (obviously there is likely going to be significant selling pressure from the raise).

Could be a bargain here if they can sort the mining out in coming months, but a big kick in the guts to holders this morning for sure. From where this was 6 months ago it's a very disappointing outcome.