placement at 28cents, page-7

I'm feeling ok about it.
I've read that it's more expensive to run a SPP than do a placement. A share Purchase Plan at this time might well have been unsuccessful if pitched at 28c. Upon announcement the price would have immediately been pressed down by holders selling to participate; and that momentum would have been dangerous. A placement is also faster.
The participants only got 1 free option for every 10 shares subscribed. It's possible that this placement will get the company fresh participants.
We knew that they'd have to raise operating capital for this quarter one way or another.



A Gold bearing quartz vein at the No2 Citigold Crossvein Central decline - drool slobber