trading halt, page-44

"....i would have been more than happy to take up a 1 for 7 or even 1 for 2 rights issue at the proposed placement price.
There is little in this placement for short term value for shareholders other than probably a reduced share price."



Yes....now I agree with that completely.

Admittedly, capital placements are always simpler for companies, but all too often they are negotiated at values considerably lower than marketprices, far more than they would need to be if a SPP or rights issue was undertaken.

My information does have this suspension due to a very large placement, at $1.62....it's normally very credible, so if that works out to be correct, that could be good for us.

Cheers.