Ann: Equity Placement , page-8

I don't see it as a negative for ORD at all, nor the sophs. It is a nice little vote of confidence for ORD even thought the amounts aren't huge. would you prefer they have raised at current price instead of a premium?

Same thing happened on another stock with a cornerstone investor buying in at a premium. They saw value and even though they paid a premium, they knew the underlying assets would be worth well more than their investment when the project finally comes to fruition.

As for raising when they have current capital. In this climate, take as much money as you can while it's on the table. Especially if you can get it at a premium to current SP. Especially if you don't know what the future may hold. Europe may implode and credit markets would freeze making it very difficult to get access to funds.

On the soph side, along with Rory's comments (which I agree with), these guys would be in it for the long haul and would be confident that their investment at 2.2c would be handsomely rewarded further down the track. Some people actually buy in to support the company and its ambitions.

Also remember that the tranches come in 3 waves, so it may very well be the flipside to noone knowing what the future may hold. Things may progress and the SP may spike and they'll be sitting pretty at 2.2...

It's the name of the game and I'm happy with the raise at a premium to current SP.

Please oh please Timber7 - come back!!!! Your presence and posts are sorely missed here.