What do they mean by underwritten, does that mean if its not...

What do they mean by underwritten, does that mean if its not subscribed by us the shareholders. The offer is taken up by whoever is underwriting it?

"Mr Lee holds all of his securities directly. Mr Lee will also underwrite up to a total of $200,000 (being 200,000,000 New Shares) under the Offer. However, it is Mr Lee’s intention to allocate a proportion of these New Shares to non-associated and unrelated third party investors."

Also i noticed that 350k is going to ADX as part of a costs over run.

Lol SD what a nightmare.

Could this company possibly have chosen 6 of the worst drills in the last 2 years.

VIL should operate as O&G consultants and anywhere they decide to invest in the other joint partners should know that they arent going to find anything and save their cash by not bothering to drill at all.