If issued at the 18% discount, some 9m less shares would have been issued (by my rough calcs).
Moreover, are they really that cash starved that they need to issue scrip for $35k?!!
According to the last quarterly they had $705k in cash or equivalent than and I imagine the corporate and exploration spend is in holding mode whilst things are being sorted...
Does not make sense to me (unless it's a mandatory monthly fee?)
PAX Price at posting:
0.3¢ Sentiment: None Disclosure: Held