Ann: Corporate and Project Update , page-24

You are right Graham your secenario makes sense rather than continualy issuing shares at .001.
Even the announcement today speaks of the 18.5 percent discount yet they completely ignored this.

"Shares under the facility will be issued to Deer Vally at an 18.5% discount to the prevailing market price"

And now they want our vote and blessing to continue past the 15%, pfft.
they will get my vote (abstain)becaz i cant be *&^%((** sending in the paper work.Just use it as dung paper.
Cheer