"But these guys need to recap KEY now, then it should be done...

"But these guys need to recap KEY now, then it should be done 1:1 rights and priced so that any leftovers will be swept up by others with a preference to the retail investors, not the sophs who have already been set in this at low prices.
We have all been diluted heavily enough already.
A rights issue should also include 1:1 7c options for every other shareholder that has been shut out so far."

First of all Congrats to Asteroider for correctly guessing how the cap raising would fall. Only .5c off the oppie but happy to give you that one.

I for one will probably put my hand up for the shares. Its a case of be involved or move out of the way. I still am happy to be a long-term holder in this share, though would like more clarification on Tanzania. I'd also like clarification on where all the money went from the last cap raising. I can only hope they do better with this one. I do think though that the money that was dedicated to the UK, they switched for the opportunity in WA. Hopefully that risk is going to be worth the effort.

What I am glad is that they are approaching us, and not just doing it to sophies. That is a bit more respectful, that heavily dilluting us, against a rise in number of shares.

What I wondering is if WA is pulled off, and we get income from that and the UK is sorted out, if the cash-flow would be enough to fund the Tanzania drilling requirements? If those two are pulled off - I think the SP would be re-rated on the back of potential income.

I mean market wise we are only valued at $6m, soon to be $12m with cash in hand after cap raising. Lets hope they don't waste this amount, and actually put it towards something that creates value.