report, page-15

re: cs energy make $2.5 mill and get the hell out Fair enough,
But I have been watching the trades go through over the last few weaks...and when I consistently see purchases of $50000-$150000 going through (not over the last week or so...mainly when the price leapt into the mid-50s)...I assume these are some institutionals or large personal investors taking a small bite (by their standards) but that doesn't mean they become substantial holders...and I also assume that large holders won't be getting more than the maximum 20000 listed in the prospectus, suggesting that they think the stock is worth it despite the upcoming dilution...maybe it not a large effect, but something I thought worth noting...

The company has stated that it will accept over subscriptions ""considering QGC's funding needs on the closing date"...these means the upper limit is the number of shareholders (unknown) multipled by 20000 shares...no company will knock back easy money (specially if it can raise bonuses)...so I think it is likely that people possibly get their full subscriptions whilst the large buyers are constrained to 20000 like the rest of us (the 20000 limit is the only real limit in the whole SPP).

I was worried about elph selling out too...hasn't done it so far...you'd think he would do it straight away if was going to jump off a bursting bubble...if anyone had insider knowledge it would be them. Also, those shares were decided at 25 cents when the share price was still around 30 cents.

I understand your skepticism...my deliberation has been over whether to apply for the full subscription despite all the downside risk we have both been mentioning (i.e. uncertainty, price bubble etc)...on the whole I still think it is worth the punt!