Considering it took a while to raise $4.5m through the initial...

Considering it took a while to raise $4.5m through the initial 1c prospectus, I would consider another couple of million dollars at 1.1c soon after as a positive, because nothing has yet changed except a run up of the share price on moderately low volume (compared to shares on issue) by speculators.

The sp will retreat below 1c soon imo as it is coming up to tax sell off time as happens every year. So unless big news comes very soon ANS will drift lower and then the detractors will see 1.1c as being quite reasonable.

A $50m market cap is a lot for a company with a stranded iron ore deposit, so until confirmation of progress regarding the port and rail, ANS is essentially a gamble, albeit one with a good chance of success at some time. It is more about the time frame that makes it hard to place a value on the company. The initial burst of excitement after relisting has now been replaced by the realisation it could take a while to get something concrete in place.

For those who are prepared to be patient, there may be a great benefit when a significant announcement comes and by raising more cash now, the company can operate for longer before running out of cash prior to the positive announcement. If they used their $4.5m and had to go to the market before any real progress, they would surely be punished.

The extra capital raising is a prudent, considered measure of insurance by the board against unforseen delays imo. It doesn't have much of a dilutionary effect on a company with billions of shares on issue. A smart move imo.

I haven't held these since 2014 but still have a few family and friends holding plus family around Geraldton who are hoping the port gets built by someone soon to revive the mid west.

Just my opinion as an outsider looking on.