Just found this from @Silent-Bubbles, all credit to him. CTM Not...

Just found this from @Silent-Bubbles, all credit to him. CTM Not sure if you have read it yet @jimmityg

Interesting that the proposed 266,666,667 shares to be issued represent approx 12% of the current issued shares of 2,304,982,165. On the surface it looks to be under the Capacity Rule 7.1 ( 15% ) , and not 7.1A ( 10% ). Begs the question then why not expand it and open it up to shareholders for the full amount.

All of the reasoning's for a CR make perfect sense given the year end Annual Report preparations and release ares just around the corner being 21st March 2019. Would make perfect sense to have raised before a re-setting of the raising capacities for next year - especially given the potential for another 623,049,575 from a possible conversion of the OB's . That could potentially see us at 3,194,698,407 SOI by Sept this year provided there is no further extension to this current raise.

What also could be interesting is that there is also sufficient days remaining to what would normally be our AGM on around 4th May. This date would most likely be just following the release of ' Purity ' results and other data surrounding the Itapitanga 40 tonne sample being handled by the Simulus Group. Potential strategic stake ? - this would be one reason they would not be obliged to disclose an announcement ahead of the CR details. This would be due to the sensitivities surrounding ' commercial ' negotiations - and would most likely require Shareholder approval which would of course time real nicely into the AGM. If it is commercially sensitive it could be just about anything including a a pre-cursor for a JV on the Jambreiro Project.

We can only hope for something like this,, however apart from this I certainly do not think there is anything untoward's and its more likely just for working capital requirements and to give a ' leg ' up to those Soph's and the Big End who have lost significant leverage not to mention ' bikkies ' on the OB's. I wouldn't think it was the Salobo License as they would look pretty silly given that this is what they have disclosed as more or less stock standard statement requirements to the ASX :