pummelled, page-7

re: pummelled/down half a cent It would seem the placement pretty much blew away any chance the oppies had of being in the money. Not that I held any oppies, but did buy a good swag at 15.5c and 16c.

What I want to know is, why the heck didn't Ian go to SG for an $8m loan instead? Or take out a loan for $5m from another source? Judging from the tone of the asx release about the loan, it would seem SG was quite eager to provide debt for the company.

I just can't think of the rationale. With the amount of cashflow coming in once the project starts, they would EASILY be able to accomodate an extra $5m loan.

Grrr. In June shortly after the placement to instos as 15.5c Ian said that they now had enough funds to see through the end of the BFS. And now this. I thought he was a pretty credible kind of guy?

Really, really disappointed. Let's HOPE that this is the last capital raising we will see.....