re: Ann: Private Placement to Raise $1.4m at ... It has been...

re: Ann: Private Placement to Raise $1.4m at ... It has been worrying me that they would need to raise some funds. I suppose that was why the share price drifted down.

7 cents per share is a 16.6% premium on the current price, and better than what I expected. The additional 20 million shares represent 7.7% of all shares currently on issue.

I expect the market will respond positively to this announcement and the price will drift up.

The next major announcement will be the first drill results. If they are good we should hit 10 cents fairly quickly and hopefully future capital raising for exploration will be at more than 20 cents/share.

loki