roadshow with no red lights, page-5

Thanks iSHMAEL.

What you say makes sense but you are preaching to the chior here.

I bought the allocation at the last capital raising but I'm not sure I would do so again. If I were in the market to top up my holding, I think I would pick the moment and do it, as many of the HC posters appear to be doing.

The strongly growing sp meant that the discounted price was significantly above the price at the time of the announcement.

The high volatility, with swings of up to 20% or there abouts, means that I could have bought cheaper after the issue. So, as things stand, the 7.5% discount wouldn't be big enough to tempt me next November.

I don't know much about these things but I could see an options issue priced right doing well. As long as the SP made the target, the company would get the funds and the increased liquidity. They could be priced to reward shareholders if that is the intention.

Other than that, I gues they could make large off-market sales of new shares to institutions - say 3 million at $4 - which would clear debt and bulk out the register. It might not make much difference to the liquidity if these shares were subsequently held rather than traded though.

Regards,

Keith.