Thanks for the heads up. Don't know what happened but my...

Thanks for the heads up. Don't know what happened but my previous post did not register.
They now have money to drill after this morning's announcement.

"Monax Mining Limited (“Monax” or the “Company”) is pleased to advise that it has completed the placement of the Entitlement Issue shortfall to sophisticated investors to raise approximately $914,000 (before costs). Strong interest in the shortfall allocation resulted in the issue being oversubscribed.
As per the Entitlement Issue prospectus dated 30 May 2016, Monax has now raised in excess of $1.5 million (before costs) from both new and existing shareholders who recognise the significant potential of Monax and its key projects."

Resistance at 0.018 broken convincingly after the strong gap up and very large volume.
Due to the very low market cap and the large premiums being paid for peer lithium explorers this remains an attractive stock.
The buy / sell ratio is still 6 / 1.
With a market cap of $6.5 million and rock samples exceeding 6% this remains a strong buy.

Cheers Lute