placement, page-4

My thought, (having just got in 2 days ago), is it that it is not a bad thing.

1. Raising equity when your currency (i.e. SP) is high
2. Above minimises dilutive effect
3. Can only be max 15% issuance right (50-55M shares tops)?
4. Accelerates cash flow if used to fund drilling expansion
5. Lease acquisition costs aren't that high.

Intriguing move - if at 10% disc to last 5 days trading it would be around the 70cps mark.

Should be a good thing. Thinking its $25+ (guess).