Ann: Share Purchase Plan , page-3

Bit disappointed the share purchase is at 1c. With the deal just arranged with Coalswana I would have thought it an attractive offer at .0012-.0013 considering the valuation placed on the coal alone. At .0012 we would have needed 166mill shares(25% dilution) and .0013 only 153mill. (23%)
With 666 mill out there and now another 202 mill we have over 30% dilution. I think this is a poor outcome as there will be plenty who will sell between 1.1-1.3 to make some coin or avg down and stall any momentum.
On the other side of the coin it is a good price for LT holders but not if it results in an SP of .007 when you have just paid 1c.
Because 30% dilution brings SP closer to .007 from .011-.012 so unfortunately I can see some selling into .09 in anticipation of that.
Just looking at the market depth one buyer at .009 now and 2 at .008 for 2mill shares. Could be a bit of a block but not if it gets pulled. Not much depth after that. 3 sellers at .010 for 1mill shares. Could get ugly in the ST. Gone from .012 to as low as .008
30% down on only .5% volume!!!
Hopefully that means tightly held!


Good luck all