Ann: Oversubscribed Placement to Expand West Arunta Drilling, page-4

It’s funny how they always put a spin on these things! It should read “the institutions wanted to make a ton of money from a heavily discounted entry”

MTM got a 3% discount from the 12 day average. We had a 10% discount to the 15 day average so management didn’t put up much of a negotiation it seems.

Anyway, it’s a not a huge amount of shares, 43 million, So a high volume day would absorb 50% of these which is what they will likely do in the near future if there are easy 10% profits for them to take.