3.5c on tuesday, page-13

I also do think the recent announcement simply made clear what everyone knew- while the placement price to reach 19.9% is unclear, I can't imagine the other directors who have been recent buyers well above 5c allowing a bargain placement. It's simply not in anyones interests.

I also think that at 4c, the equity is priced to become worthless- why anyone would take stock in a worthless company is beyond me... unless they see value (ie. rising share prices). So I actually think someone wanting to secure a large piece of Valad is a good thing... provided that piece is well above 4c (which I think it will be.)