Dismal take up of the Cap Raising, page-3

Hey Basilbrush8,

You are right that there have been a number of sellers looking to get out after the recent capital raising but I have been surprised about the amount of off market buyers that have got the cash ready and only make themselves shown when the sellers start loosing fair and accepting lower prices... Just look at the recent increase in volume that we have been experiencing since the cap raising.

I believe that confidence is slowly returning, at least for speculators, as they know that the company now has their money and will be releasing some drill results soon before having to raise any additional funds. The speculation going into these drills has historically always been quite positive so its a decent gamble. Hopefully you'll be basing your investment on something a little more solid than that but just from that superficially shallow investment point of view and based on recent volume, the sp is placed in a good position for a reprice over the next month... especially when progress about their september drills start getting released. But thats just what i think and dw, I'm also quite annoyed that the SP is .9c. However, i understand why shareholders aren't prepared to throw more good money after bad and take up their share of the capital raising because this company has failed numerous times to do their sole task of being able to coordinate the drilling of a well. Not only are we now drilling in completely unfamiliar territory but the managements current track record leaves no room for confidence that they will be able to pull off even the simplest of stacked play drills. Time will tell .

Im just annoyed that I didn't get more options when I had the chance because they are selling for quite a premium...