trading halt cap raising, page-7

I agree Zedster - $60m will not be enough, they need to put this one to bed now - A statement that says we are now fully funded including the port and rail is going to be more important than the placement price.

I expect this placement will have the sweetener of the remaining 40% off take - if that is the case I hope we get the details of the offtake so we can determine the real cost of the dilution . ( more shares on issue )

The share price action recently dosent indicate to me that there will any share price premium this time in fact I expect a discount to be more likely - NAAIL paid $3.60 for their 24m shares and by my math M & G have an average purchase price around $3.50. Oceanwide are around $3.90 for their 22m but they got the 60% offtake so who knows what they really paid.

in this market 50m shares at $3 would still be a great result - anything $3.50 or above and W.M is a genius ,

Normally we get a 3 day halt followed by a suspension for these announcements the fact its going to be announced tomorrow is encouraging- If its only $30m then I doubt the market will be overwhelmed as doubt will still remain about the balance of funding.

Lets hope its not another newly formed Chinese $2 shelf company registered in BVI introduced by Mr Ma. Hopefully its not Chinese money this time. Another fat fee for Azure no doubt - CDU has been a nice milker for them seeing they get paid even for deals that Cameron and director Ma arranged.

Footnote for Dossa - all conjecture on my part - but thats why Hot copper exists isnt it :)

hOOt