just a thought

Between them Citicorp, Merrill Lynch, Algebraic, RMK Super and National Nominees have spent $9.86 million to acquire FDL shares in the recent placement.

Now, this is how I see it: would they be prepared to commit that sort of cash on a purely speccy stock? I can't see it.

What has been discussed behind closed doors with these sophisticated companies? There is no way, imho that they would even consider such a commitment if there were'nt very, and I mean very solid prospects that the JORC confirmation for at least the targeted resource size will be achieved.

These guys are definitely not gamblers with their investors money including that of super fund's.

Maybe I have this completely wrong but it is inconceivable that they would just bung-off their share placement applications without first having detailed discussions with the board of FDL. If I'm right, then that's good enough for me. Tell me if you think I'm dreaming or not.

Cheers,
JC