SUDS, I think the announcement was "Raising $18million to fund growth" I believe it was coming from a JV with Henan Jingu, in August CTO decided not to progress with an extension of the deal, the $18mill was not riased.In fact the total of raisings for the financial year were approximately $10mill. They subsequently received $2mill from Zhaojin in July 2010.
Yes the recent announcement does say High Wealth Individuals but you are splitting hairs trying to differentiate between High Wealth and Sophisticated Investors. Either way IMHO they are nothing more than punters with some lazy cash and the Funds referred to are probably only small investment vehicles within some private super funds.
DYOR My ramblings only.
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