Ann: Placement Advice , page-67

thanks for your efforts crack but I doubt there is any reasonable explanation for the need to raise $5000!!!! (by issuing 50000000 options)

As I said earlier - the shares I can live with and while I don't believe they needed $500000 right now, I have to accept their explanation.

But surely crack there could have been no reasonable explanation for $5000!! If there was (in your opinion) can you enlighten me? They could have raised that by issuing another 500000 shares rather than 50 mill - and don't tell me they get the extra 2c in 3 years (or before) If this drilling program meets expectations, 2c in 3 years will be laughable.

I don't think the company has any right to feel comfortable about what they have done - and if they do they are at odds with many of their top 20 shareholders and most of their smaller shareholders.

Not a good look!! We haven't heard the end of it.