$200K Cash Left, VWAP and CR, page-82

They only do vwap based price setting if there is any sort of stable trade history to go on.
There isn't so there cant be any sensible vwap discussions.


I think the conversation will go something like this ...
Company: "look at our wonderful results we want to raise money at the closing price" 4.2cps.
Broker: "are you joking you only got a spike because you re-drilled holes 10m away from holes already drilled in 2010. I'll give you 2.5cps.
They settle on 3cps for the CR.

Interesting aside (as noted by others) without shareholder approval they are only allowed to issue up to 15% of issued capital in a raise. They have 117.5 million shares on issue so 15% will be 17.6 million shares at 3cps for a grand total of $530k.
Not going to set the world on fire in terms of forward activity - so they might then also seek to raise more subject to shareholder (your) approval.

Re the results next week that have been mentioned.
If these are just the re-splits of the already reported results (taking 5m samples down to 1m) then in theory they should have no impact on the share price at all.
A bad analogy I know - but its like eating a banana - if you cut it into 5 pieces before you eat it you don't mysteriously create more bananas (gold).