Well, it was always know, perhaps not explicitly, but was there in the event of a shortfall (as did occur). The money has been paid as equity rather than cash, that is significant as the vested interest in performance remains. Directors fees are no longer a liability.
Whilst it would've been nice to use the entire raising for exploration use, imagine the train-wreck if it was paid as cash..
Ann: Quarterly Cashflow Report, page-33
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