capital raising, page-47

Reality eventually makes pipe dreams bust and this is the preliminary result: $4 million credit to be repaid before 28/02, otherwise default. New shares to be issued as had to be expected. No details at all. Now much debt (if any) and how much equity? What are the terms and conditions? Given the company's desperate situation coupled with a hostile investment environment for all things "resources", one has to expect the worst. Assuming $3M at 1.5c means 200 million new shares to be issued. And that's not the worst case scenario yet.

But don't worry, there is a "new team" that will change the world. Yeah, right.