Ann: Trading Halt, page-34

Last time i spoke to Gary regarding the capital raise at 2c, he said that we didn't really need to do one back then but it would be best to get it out of the way and have a larger cash balance, then look desperate later down the track when required.
I don't believe this CR would be to just increase cash balance as we have plenty for current operations.

I don't know what this could be for as the only planned operations is for drilling and a pre feasibility study at the moment. Hopefully he has secured some sort of strategic partner who is willing to provide initial capital to get things rolling.