Reconciliation from quarterly report shows:Cash on Hand and at...

Reconciliation from quarterly report shows:
Cash on Hand and at bank 717,000
Deposits at call 1,769,000
Other term deposit 145,000
cash at end quarter 2,631,000

please check figures for yourself.

Now, I don't get it why do a placement at 3.1 cents when you have 2.631m?

Was it really necessary for this dilution?

Lets assume for a minute, that the first set of assay results for dome 5 come out to be good, wouldn't it make sense to do the placement after? have less dilution?


To me it appears that management are not so confident in the first drilling to produce strong assay results in dome 5, and have opted to get access to capital before the sp get smashed. what are your thoughts?

The sp finished at 3.4 today, and the buy side is drying up. I ask the question, the market knows that assay results are going to come out anytime, but are not showing much interest ?


dyor