Not a large raising and not enough for much more than a bit of r&d and working capital, as opposed to significant exploration. That's fine if they secure an offtake and stick to production timelines and can raise funds at a higher price, say, early next year.
Would also have like to have seen, "fully underwritten by Far East Capital". You'd think if they were quite bullish the stock, they'd be interested in owning some heads, to compliment the options they received in lieu of fees for service, earlier in the year. Maybe they will take some of the shortfall.
All in all, not too bad, a 7 out of 10.
MRF Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
