Ann: $9m Placement to Fast-Track Regional Exploration, page-21

What makes you think it’s to “newbies”. There was strong insto take up and in order to get a good allocation you have to demonstrate an existing holding of some size. I was scaled back around 20%.

A hard reality check is needed for some people. Raising capital via retail offering takes time, money and effort - the company couldn’t afford it. Plus, and this is an undisputed fact, retail offerings always result in the SP languishing while every man and his dog sell into any strength for a few pips and it takes months to wash through it. Today there was strong support and not a huge amount of dumping. Do you think we’d close at 5.4c with a retail offering? Hell no. We’d have closed at 5c.

I get that SH are bitter they couldn’t participate but that’s the game. Get a broker account and get involved if that’s what you want. The company isn’t to blame for raising cash in the best way possible.