In Oct 2013 they raised at A$0.38 , since then they have gone...

In Oct 2013 they raised at A$0.38 , since then they have gone back to the market at A$0.28 .
If they have to raise at much less than A$0.38 then the money raised in Oct2013 doesn't seem to have been spent in a way which has added any value in the eyes of the market .

Surely they have got some positive news to release to puff the share price before the public offering ; and not just to enable the sophi's to exit - if they haven't exited already .

If there is no positive news then goodness know how they are going to have to price this one to get it away successfully .

Will this cash injection will get any of the projects to J.V. stage , reserves based lending , meaningful production , sale or partial sale - and whether if there is another issue it will be at a higher price than this one ?