Ann: $9m Placement to Fast-Track Regional Exploration, page-25

I agree with much of this. I would have thought (hope) a large portion of the stock may have gone to the long term instos. that haven't seemed to be selling the stock. From memory some would have taken the placement a while ago that was closer to 10c. Sometimes there's a "gentleman's" agreement not to sell the stock once it's allocated (sticky stock), or if you do, you're unlikely to get future desirable floats or placement stock. Some sophisticated investors obviously do sell for the 10% gain if it's there. But brokers sometimes will get a "bad" rep if they're forever taking stag profits. At times stocks allocated if it's agreed there will also be on market support.

If it's to "newbies", you still have to believe the stocks more likely to be higher than the placement price at allocation. It doesn't really bother me if they're allocating to their "mates" in the belief they'll make excellent gains as it will mean I'll make excellent gains. One of the aspects I've liked about this company compared to so many, is the directors have a fair amount of "skin in the game", which has often been purchased on market.

I've purchased this stock as low as half a cent and as high as .20c, I've traded my "trading portion" poorly. I'm "peeved" as I purchased another 500,000 the day before the trading halt (terrible timing). But I fully understand why they didn't do a retail offer, and "retail" shareholders could have purchased on market today at a marginal premium to the placement, with the advantage of immediate liquidity (and I understand a shareholder could be selling stock at 5.3c today and getting the stock back in the placement).

Anyway, hopefully the company can achieve the share price targets of much of the research reports, good luck all.