We know they didn't need the money as last quarter was virtually net 0. Exploration and developement was all covered with a measly 12,000 ounces. There must be something major that they need to undertake to speed up the developement of the mine. ie. mill upgrade, a significant amount of mining equiptment, or perhaps more drifts tying the new zones to the mine or whatever. I must say I am a little dissappointed in the way they raise money. Insiders were selling option shares last month helping the big boys get the price down to a bargain while leaving everyone in the dark with no news on the reaching of the 007 or any drill results from the L13 or RL East. The good news is this is probably now our bottom as it is likely that the buyers of this placement will want to see a return. I hope they tell us more specifically what the money is to be used for.