here is the good news so please get upset, page-16

This is Mr Lincoln Augustus, first second cousin of Holymagiman

I have been giving this placement some thought and I feel that there is another little bit of good news that has eluded us.

I do not think HGO was in a position to purchase any of the placement, so in effect their holdings in ESG will be diluted. If they did take up any of the placement, then they would have to make a substantial shareholder change of holdings notice to the ASX.

That is good news because the holding that HGO has in ESG at present is like a poisoned chalice.

Any unwanted takeovers could be initiated by a back door purchase of HGO's holdings, so the less percentage HGO holds the better it is for ESG shareholders in any takeover proposal that may be tabled.

All in all, a good move by ESG and now they have the ready cash to prove up reserves.

I shall have to go for now as Holymagiman is calling, the fishing boat is ready and the fish are biting. Everything is happy, everything is bliss and the only ones unhappy are the big fat worms in the tackle bag.

Blessing of the Lord and peace be with you.
MLA