Ann: Capital Raising, page-6

Still a bit puzzled by the cap raising in the first place.


I would have thought with positive results from stage 1 leading onto stage 2 of the exploration plan that the SP would have risen higher therefore allowing them to raise at a higher price with less dilution to get another mill in the bank.

Smell's a bit "fishy" to me, maybe payback for those who trumped up money for the Fraser Range project by allowing them to get on board at a cheap price because they know Breaside is going to be a winner.

However it has been done at 3 cents with no oppies and none for us shareholders so as it stands we have approx 285mill shares on the register no oppies to be converted and now maybe $1.5mill in the bank they say which will take us thru all stages of the exploration plan.

The way I see it is bearing in mind with positive results the SP will continue to go UP as we progress thru the stages and then we will see another bigger cap raising with oppies allowing us to be a part of to take Breaside thru to production with a Chinese JV partner.

Lots of maybe's, so lets see some results and go Rumble.

Cheers.