trading halt, page-26

True omegaoil, i used to work as a broker...must say thats a significant placement if correct...why they need that sort of funding has me baffled.
Costs for the dso are minimal plus they had close to 20 mill in the bank.
They have also stated on numerous times they have been in talks with up to 200 possible jv partners and recently said they were down to 35 and last week announced they were down to a shortlist.
I would have thought that jv partner would have struck a similar deal to the ones other iron ore miners have recently so little need to raise cash.

Why the hell do they want a 100 mill warchest ...takeovers seems to be the only thing i can think of...anyone thing else?

Will they reward placement holders with the jv announcement straight after?