trading halt, page-43

YC,

Trying to strike fear into fervent believers again?

A capital raising at this time would not do any harm to the sp, in fact it would derisk it? Why?

Well it's far far to early to raise cash for anything beyond a BFS at this stage, and therefore only a few % of mc. Even at a discount the theoretical loss of value to existing holders would be less than 1%. The beneficial psychological impact of such a CR would this implying to people a much higher floor value than the $2 of the last CR.

STB have proven to be very frugal in their capital management. I had my oversubscription for the Dec 09 rights issue returned.

Better perhaps that you scare us with stories about farmers not really wanting potash, or the such like.

CR at this stage aint scary, just probably unnecessary. The scary thing is when a junior is sitting on a resource like this and a sp of 20 cps, with the potential value unrecognised, and then has to do a big dilutionary CR. Not STBs problem.

EL