Ann: March 2011 Quarterly Activity and Appendix 5, page-20

re: Ann: March 2011 Quarterly Activity and Ap... FeralMuttley,
I, like you, am bullish on the geology but they are going at a snail's pace whilst burning cash at a fast rate.
I "suspect" RBS Morgans were selling today as I know from talking to other clients that expectations were very high for this stock and there is a fair degree of disappointment from clients. A lot are heavily exposed and losing patience and at these prices are enduring a fair bit of financial pain.
The key risk for holders now is how long before the next capital raising. Dilution at 10c or under will make it a hard slog for capital appreciation. I don't know what price they will have to raise at but at a current price of 11.5c, they would be hard pressed to get current holders to open up their wallets at anything above 10c.