The top 20 hold 53% (from the annual report). It's a...

The top 20 hold 53% (from the annual report). It's a renounceable rights issue so you can always sell your rights. It could get very ugly if everything is dumped. It's a hard sell as there will be even more dilution down the road with the 100M+ Big Hill. Who knows what will happen, maybe a white knight will emerge with a cheap takeover as they do have some quality assets.

What I don't understand is (from the Prospectus)

Procurement of feedstock and inventory 5.5M (minimum)
Production costs 500,000 (minimum)
Working capital 500,000 (minimum)

Thats only 6.5M (minimum) for first production the rest is debt. Procurement of feedstock and inventory 12 months ago was what 6-6.5M? So what was the minimum for production at the end of 2011, 7.5M? The cash at the end of the September 2011 qtr was 2.4M. The market cap low in 2011 was 30M(ish), even at the lower end of the sp 7.5M would still fall under 15% rule thingy and it was a solid market at the time with a strong interest in tungsten. How do you go from that to this?