Ann: Capital Raising , page-16

On the bright side, at least we know they will go above 1 cent.

The way I see it with the new unlisted options, is they are really raising money at 1 cent in the very near future, not at current levels of about 0.4 - 0.5 cents.

If the Iron Ore is any good and the shares move, they need to go above 1 cent for these to be worth anything, they are not tradeable on the ASX.