rights issue massively undersubcribed, page-4

I spoke to Veritas Securities today GO. They have said that they are honouring their side and that sub-underwriters (brokers) will also be taking up some of the shortfall. I offered to take some of the shortfall off their hands but was politely declined so they can't be that desperate.

So ADX gets their money and the drilling is going ahead. It just means that the shareholders missed a golden oportunity, but I guess it was bad timing, people were probably getting jammed up with margin calls or were getting spooked by the market.

With regards to the overhang in the market, I guess there might be some there. It just depends on what the sub-underwritters have in mind. ADX has been proactively doing presentations to brokers, so one would would think that their will be some broker interest and the overhang won't last too long....especially this close to drilling.

DYOR GO and there would be no need to get emotional over your comments.