The capital raising at .4cents for $10.5 million is a disaster...

The capital raising at .4cents for $10.5 million is a disaster for existing shareholders and again those in the know (management's family and associates) who are privy to what is actually going on wil participate

PAST RECORD OF MANAGEMENT
1. Track record of very poor investor relations and lack of updates leaving shareholders confused and uninformed
2 Non disclosure of material events as stated above by "flyboy"
3.Deceptive behaviour in relation to past capital raising in particular Dale Rodgers's son acquisition of shares.
4.Lack of budgeting and financial planning ie.convertible notes and running out of money
5. Apparently they have not approached the mining in the correct way as discussed by previous miners who have worked in the A1 mine. This last criticism is the last straw as it was their only saving grace as it was the only thing that many thought was being done correctly.

Summary...we have a board that have a reputation for non disclosure of material events, deceptive behaviour, inept financial planning and budgeting and now incompetent mining.

PROPOSED CAPITAL RAISING
The company is obviously not interested in its current shareholders as this proposed raising is so dilutive and coupled with the above facts, will not have much support from existing shareholders and they know this and are counting on it. The management do not care about their ordinary shareholders (70%) but are only interested in their own interests and the interests of the major shareholders who happen to be related to or associated with the current board.
This raising will be taken up the associates and family of the current board who are much better informed than the ordinary shareholders and possibly day traders who will be sold on the quick return.... .4 cents to 1 cent.
Once again Dale Rodgers has shown his true colours

If anyone knows how we can rid ourselves of this board, can they do something before we are all diluted out of the company