Remember when you pitch for placement funds there is a term...

Remember when you pitch for placement funds there is a term sheet where they explain use of proceeds and terms. Allot of the questions asked here will be explained in that document. No doubt the company will release that in an announcement so all shareholders can see it once the placement is away.  I have no inside info, but plenty of people who qualify as soph's have seen this document today. 

I guess you could take a negative view on why a raising today or you could be more optimistic. Maybe they need the cash to start building pipelines and  book reserves/ resource upgrades?  The company is going to need plenty of capital to achieve their ambitions, they will want the OA's converted.