announcement, page-28

Hey Guys,

Just thought I'd let you know there's an announcement coming.

LMAO

We all know there's an announcement coming. The ASX demand it as part of the listing rules. Earnie just uses a little poetic license to slightly twist the expectations of the hungry APG holders. The biggest problem I see is that every holder is poised and ready to "do an Earnie" and sell on the next factual major announcment.

It's called gap trading guys and it was perfectly played out when it was announced that BHP took a position on the register. My money says it will more than likely happen again on the next major announcement so you had better be quick if you want to lock in some profits. The Big Earnie (his own title) will no doubt be waiting for his next coup de gras and will have his well practised pinky on the sell button.

Now, down to business. I personally think that today's announcement was one of the best placements I have seen for a long while. Shareholders have to be happy that it wasn't subject to the old "buy in bulk and discount" theory that plagues so many other placements. The price was right on the money and didn't suffer the 20%-30% discount given to most.

I don't believe that we will see anything sub 0.09 cents but I do believe that the gap at that price will be filled but as I have said before, for me - I hope it does get filled, for you guys - I hope it doesn't get filled.

I was a little disappointed in the market reaction to the announcement in that she failed to even reach her average daily volume. With this placement and January just around the corner I expected more.

Maybe our large holders are the masters of their own demise and the market already knows what will happen if they push the share price up. Nobody wants to buy at the top of a run and past performance tells us that it will be dumped into. So think about the shallow parcels of bids being offered close to the market action. Such small quantities will ensure that patience rules the day and anyone wanting to sell can only do so in small quantities unless they take out several price points on the way down. Now that would scare the market and fill me sitting at the gap.

Unfortunately, the market knows and we know the trading history of APG as soon as a good announcement is released and therefore I think it will be a slow and steady climb all the way back to 20.0 cents.

When she gets there, there will be no stopping her this time and I can't wait for that day to come (as long as I get my fill at 0.09 first).