Ann: Oversubscribed Placement and Vanadium Acquisition completed, page-25

Definitely not happy that existing shareholders (sophisticated and small shareholders alike) were not given first allocation and free 3 cent options there Slogger.

After they announced Sherlock Bay it was almost impossible to buy a decent number of shares on market for under 2 cents...then we get to hear that they not only sell over 100mil in new shares for 1.5 cents to new investors, but they give away over 100mil in free options as well...

...New investors must be happy, they have almost doubled their money in one day and get 1:1 free options at a meagre 3 cents expiring next year (almost in the money already)...not great to hear from a long termer that is just trying to recoup his losses after so many years..sure would have been nice to be provided this opportunity...$500k allocation with no options sounds like a token gesture..

Not sure how I feel about the floating of the Namibian assets either? Although if the primary focus for SBR is now Sherlock Bay, the Namibian assets (albeit attractive) may well have been neglected so this may sound like the logical path to take...

A lot to take in from this announcement, any thoughts from other long termers? Qantum?