Ann: $15m Placement Completed-Including US Cornerstone Investor, page-33

I personally think this is an overhang from the capital raising last Nov. We would have been better off raising those funds through existing shareholders (with an SPP) that are more likely to hold long term rather than a bunch of “sophisticated investors” that were always going to dump their cheap shares on the market for a small profit. Those 130m odd shares have suppressed the price since then and stopped any real run up in the price including yesterday and today where they keep selling into good news. At least the $15m raised this time has gone into safe hands that will be holding onto their shares. I think once these sellers dry up, which is only a matter of time now, this should naturally start trending up. We’ve traded over 170m shares since then so must be close to getting rid of the free loaders. AIMHO