If the details in AFR are true...placement for $15 million at...

If the details in AFR are true...placement for $15 million at 10c a share would only require 150 million issue.

If they are true, could be more or less...suspect we'll find out in a couple of hours. Still think funds with some option to convert at a higher price down the track is more likely and maybe it's something else again :)

PS I would be very content with a 20% dilution. Would put earnings 18 months out at about 4c per share on stage 1 alone.