arvo defence line in place, page-8

It is interesting that RWD has flagged to the market an intention to place 20 million shares - about 40% of the issued capital some weeks before this can occur.

I have noticed that such large placements are often announced after they are completed when the first tranche is allocated up to the 15% limit and an EGM subsequently approves the remainder - MRU recently did this.

It does put an element of uncertainity into the current stock price as one has to guess what the placement price will be and with such a large placement the price set will be influential.

It has also put a cap on the current trading but whereas it looked like $2.15+ was likely it gives an opportunity to accumulate stock around the $2.00 level.

I think the Ag sector will attract funds and there are are not many plays with a strong growth potential. Given the state of the market the RWD chart over recent months is exceptional for a small stock.