oversubscribed at 38 cents that was quick!, page-4

Kermit

I agree its a strange one. Look Ian has also stated that he wants to maintain a tight register and thats what he is continuing to do. However whats the point in only raising $1m? and where's the overseas investment?

The company needs to come out with a statement regarding what it intends to do with its investment in IFE. $1m will not go far in taking up the rights so if thats the case who are they going to sell them to. They surely must have lined up a buyer?

I suspect that Ian thinks the $1m will provide enough funds for the company until the IO revenues start coming in, but I dont know the statement from the company this morning was certainly brief


Lots of unanswered questions at the moment. The SP will only move downwards (IMO) until all this uncertainty is removed.

They could easily remove a lot of uncertainty by issuing to the market

1) what they are going to do with their rights in IFE
2) What steps are they taking to identify a JORC gold resource at Wilcherry Hill
3) what has happened to Lynas in WA
4) whats this "overseas" investment

I am sure people an add others but overall all these questions are on investors minds and are not being addressed by the company

Still maintain a Hold