on market spp....., page-20

4 points:

First, a key issue was pointed out previously - Kruiser I think? If the placement was oversubscribed then the Hartleys clients should be all over the after-market soaking up stock and this thing should be early 40s. It is not. I believe in this company's assets and prospects, but am worried for the first time as the SP tracks back towards my average entry price.

Second, marsupial do you have any precedents re Hartleys stacking cheap CRs and the SP getting a hiding. I would have thought the cowboys from the West would fill their clients' boots and the SP starts moving northwards as they all buy stock on the aftermarket from each other and make a quick risk-free 50% then flip them.

Third, Hartleys is taking 6% of all capital raised under the SPP and Placement despite the fact that neither is underwritten and the pricing was poor. This works out as fees in excess of $1M and they have delivered an atrocious after-market and poor pricing. In my experience, this is absolute banditry. I will not be able to attend the EGM but could someone please ask the question why this is?

Fourth, why have we not seen any change in substantial holder notices? Is there some selling by our mysterious Channel Island holders? Where is all the volume coming from? Dexter, do you have any intel on this?