these guys are so conservative

They could have done a cap raising at 25 - 30 if they were smart managers.

Anyway no matter cos its pro-rata for shareholders and renownceable hence fair and non-dilutionary for us.

They obviously intend a more intensive drill program now ahead of DEC options expiry ... happy with that.

Been waiting 2 years for this ..... lets hope they know where to place the holes haha.

I will be taking up full entitlement and will look for more beyond.

IMBOOC

PS just a thought ..... AREVA hold 40% of the options and on conversion they would theoretically end up with 25+ % of the company. Maybe then the recent placement and this new issue announced is to position them for only 19.9 % equity on conversion ... the maximum allowable without takeover bid ? Sounds reasonable and supportive of the thought sp will be high enough to support oppies being exercised at 25c in December ? Just a thought. Of course conversion would also mean AREVA has a blocking hold over any other predators in event of drill success placing us on centre global stage. Conservative might be good. And shareholder interest is obviously their focus. satisfying for a change looking at what rape and pillage elsewhere.

IMBOOC