Who knows. the large stake holders who are also managing the...

Who knows. the large stake holders who are also managing the company are underwriting to about 40% approximating their holding so clearly have a strong commitment to this.

1 million would likely be enough to sort out the Fraser range. Certainly enough for a number of DD holes to say 300 m. Remember only one hole needs to hit the money and the share price will go up considerably a'la SIR. They would win and so would the mums and dads. There would likely also be enough to do a couple of RC holes at aurora flats.

If they get the full 2.4 million this means in the event of a duster at Fraser range they will still be in the game (as will the mums and dads) as the remaining cash will definitely make a good go at Aurora flats. An insurance policy if you like.

Without the full subscription if Fraser range is a duster these guys will lose bigtime. So a pretty brave move I would say. Now these people are not going to blow their hard earned on a fancy. Also Mark Creasy is going in at 200K (chicken sheet to him but still a lot of dough). Hence they have a high level of confidence in the Fraser range...and so do I. Still it is clearly a big risk.

Nice thing is though is not one cent will be to external underwriters/facilitators (5-10% of funds raised) but instead wil go into the exploration effort and minimse stock manipulation in the event of success.

Will be fascinating to watch.