placement

9 cents with no option is about same value as 12 cents with 1:1 free option(option trading around 3 cents).
CSD is able to do a placement on it's own means people do know the value of the company and willing to put the money where mouth is.
With the money raised,company should have close to 3 million dollars that is sufficient to fund it's drilling program in 2011.
Remember last rights issue at 4 cents and who would thought it had a dream run to 29 cents.
Market sentiment is not sound right now but will change.