what's re-rated price based on the current exploration state, page-3

"17 February 2016
ASX Announcement
COMPLETION OF $836,102 PLACEMENT
Echo Resources Limited (“Echo” or “the Company”) is pleased to advise that it has placed 13,935,044
fully paid ordinary shares to institutional and sophisticated investors at $0.06 per share (“Placement”)
raising $836,102 before costs.
BW Equities Pty Ltd acted as Lead Manager to the Placement.
The Placement represents 10% of the existing fully paid capital of the Company and will be issued under its
15% capacity. Funds raised will be used to recommence exploration and mining studies at the Company’s
Yandal tenement holdings, in particular focussing on the Julius Prospect.
Yours Sincerely,
Simon Coxhell
Managing Director
Echo Resources Ltd"

IMO this could just be the start of something big with an MKO/EAR partnership!