Capital raisings are just a fact of life of course. It was...

Capital raisings are just a fact of life of course. It was pretty clear at the last one that the price was pitched at what was to (subsequently) become above the market. Opportunities presented occasionally to pick shares up at 5's, so in the end there was no compelling reason to subscribe. Line ball often. Even if flogging the options later gave a cheaper entry than 6. (There was then not even a strong market for the options....) So as a result there was no rush to get into it. Plus of course the fact that not everyone had the cash, and if they did then they may have had other places to put it.

"Risk" exposure is after all a combination of two things
A. The nature of the company and how prospective its tenements are
B. How much money you choose to sink into it.

So the lack of support at the last one was no reflection on MPJ. Why not buy on-market if it is cheaper?

I was surprised at this latest one... was not expecting it quite so soon. But it makes sense.

The Roe Hills tenement is massively expanding and looking very good. It is there, just has to be located with modern methods.

What was just good old Talc Lake in the old days is now vastly bigger with good sniffs of nickel everywhere almost!! Vastly bigger.

Talc Lake
Hooton
Point Perchance
Talk Lake West
Roe 2 (excluding Roe 1)
Sulphide Lake.

The picture has changed completely in a few months!!!

I am sorry but to do that justice you need to do heaps of drilling.... and that takes far more money than is in the bank at present.

NOTE : If one had participated in the last raising then the return on your investment would have been the equivalent of around 100% annual return on that money.. Yes! Amazing. So invest in MPJ Cap raisings, and to heck with the nickel???

So yes to do it justice, they need a Big drill program. Be prepared for a BIG raising IMO.

I also feel that they would have found someone to underwrite it... and tailored the price at a level at which they would take shares. That might be 7 with option, or it could even be back at 6. All negotiated.

The important point is that the last cash was used extremely well to massively expand the tenement prospectivity, and strengthen technical staff. It is a different company now.

So as long as the SP remains unchanged basically, other than maybe a flick down as some sort of traditional nod to cap raisings, then with far more money in the kitty the CHANCES of success somewhere are massively increased. Good for shareholders. 40km is a lot of strike.

So.. if the plan price appears attractive, one can always consider investing... if history is the measure it could be very profitable. Otherwise do nothing and enjoy a bigger drill program, over a much expanded tenement, with an associated greater chance of success. Pennies will not do it.. MPJ has to get serious about exploring.