i hate it when i am this right, page-31

re: just call this the leg forum lol I know this has all been said before after other placements that seem to be heavily discounted, but that's the nature of raising cash quickly in the investment sector. Sophisticated investors rarely buy at a premium (that would not be very sophisticated now would it) and these things take time. This deal was put together over the last 3-5 days, a time when the shares were trading at 18-20c. The results of the recent drills may have been hinted at in the sales process, but that part of the industry.

I can site dozens of examples where a placement at well below current price has had little or no effect on the trading. ITC placement at 4c in December, has never dropped back to that price and has been more than 100% over that (not bad in three months), GIP placement last week at 6.8c has not traded below 8c etc.

If this does cause temporary weakness in the share price, the story is compelling enough that it will be very short lived. I don't believe any of you who missed out over the last few weeks will be getting in at the same price as these sophisticated investors.

Regardless, in 6-12 months this placement will be irrelevant.

Cheers

Badfish