it's on again, page-6

I think significant news is VERY likely.

On 22nd July, ESG's price closed at 84 cents.

And yet, only a few weeks later the company is able to place over $100m at 84 cents to institutions, foreign and local. According to RBS Morgans, it was oversubscribed.

In the current market, ESG raise that amount of money, at the very same price it was trading at 3 weeks earlier..?

There is one thing that you can rely on in investing - that institutions are self-interested, and will use their economic clout to get the best possible deal in placements. They are not charities.

So, if so many placementees, including Santos, are happy to fork out this sort of money, at virtually no discount, speaks volumes.

And the buying has been strong, in anticipation of this post-election announcement...

Yaq