Details are out - $4.25m @ 10c plus a bag of unlisted options.
In two tranches - second still needs shareholder approval.
Creasy 30% 'free carry' until BFS.
Damn shames the oppies are unlisted! Exercise prices from 2015/2016 in the 20s/30s.
This is going to generate a lot of interest - it is the sequel to Sirius after all; the main characters are all there in Creasy, Fraser Range, Nova and Tropicana.
Off course, the ending is the great unknown. Should be a hot little opening with stage I of the cap raising away.
The fact that these blokes had that sort of story line and still could not get the $4-5m away @ 12c shows it is still a tough capital market for juniors.
Could be a trade on the Creasy factor ... depends how much it runs (if at all). Good luck
ORN Price at posting:
11.0¢ Sentiment: Buy Disclosure: Not Held
