If the 4.95% is strategic to avoid a substantial holding notice it can't be Fat Prophets given their current holdings.
I agree with your two points. This is either a small raising in anticipation of near-term financing (great indeed), or there is absolutely no interest in this company.
Based on the following statement I think financing is close at hand and the placement is the minimum capital required to fill the gap:
"The funds raised under this placement will be for general working capital purposes while the Company advances its financing strategy for the Lamboo and Golden Crown gold projects."
BNR Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
