Spot on IMO Billt5
"RESOLUTION 6 SHARE PLACEMENT FACILITY
To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution:
That, for the purposes of ASX Listing Rule 7.1 and for all other purposes, approval is given for the Company to allot and issue up to 250,000,000 Shares at an issue price of not less than 80% of the average market price for Shares on the five trading days prior to the issue of the Shares, to institutional and professional and sophisticated investors and otherwise on the terms and conditions set out in the Explanatory Statement:"
PENINSULA MINERALS LIMITED
NOTICE OF ANNUAL GENERAL MEETING
4 November 2010
Page: 5
Current VWAP .0791
80% = 0.06328
My guess is 6c at least. I would be disappointed if this included free attaching options and it wasn't offered to LT shareholders though. If they get a discount to the sp there should be no free options at all.
Potentially this could raise up to $15,000.000 and reduce the funding requirements. Add in they may have struck a deal via the RFP's and we may be well on the way to the funding required. Gerard Holden would then have an easy task.
It also comes as no surprise to me that this has occurred following the Shaws Uranium Conference and funds roadshow last week.
As you say Bill those that took up the PENOC are now on a huge winner. In fact anyone that took up any of the placements is well in the money now.
Who was the one that wanted to know how I felt about taking up the placements?? Feeling is great actually!
Pays to think long term and practice patience.
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