Yeah I thought the same. Having said that, given that they are...

Yeah I thought the same. Having said that, given that they are doing this one would think we will have positive news with regards to the last sentence in this release. Hopefully the raising is at a premium to current levels!!

From last year:

The directors of Mount Magnet South NL (ASX: MUM) provide the following guidance with respect to the feasibility study program currently being conducted into the recommencement of operations at the Kirkalocka Gold Project.
On 13 October 2011 the Company released an upgraded Mineral Resource Estimate, taking the Company’s total resource to 413,000 ounces of gold as detailed in Table 1 below. The directors considered this to be a very positive result, which did however have the impact of requiring further iterations of the previously completed mining and processing studies.
In addition, the Company appointed a debt advisor in October to assist securing funding facilities to commence the development of the Kirkalocka Gold Project. The
debt advisor has made certain recommendations with respect to meeting potential financiers due diligence requirements.
As a result of the above, the Company advises that the completion date for the Feasibility Study will be in the first quarter 2012.