trading halt, page-42

Sorry the apprentice,i see i did write that post up wrong...again
the co stated this week-

Partnerships / Strategic Alliances / Other Agreements
The company has received a number of expressions of interest from potential strategic
partners to assist in the development of the Ridley Deposit. The company will determine
the optimum development alliance partner and agreement structure, targeting both short
and long term value to shareholders.

This placement if true is a blow to short term shareholders, i would have been more than happy to take up a 1 for 7 or even 1 for 2 rights issue at the proposed placement price.
There is little in this placement for short term value for shareholders other than probably a reduced share price.
MIS have just done a 1 for 7 rights issue...interesting to see the stock suspended atm is this more than just a placement??