Ann: Bryah to Raise up to $3.95 Million, page-36

The oppies haven't been issued yet and still have to be voted on at the general meeting. Obviously it's probably a given that they'll be granted.

Still, I don't think it's just placement recipients (I am one, I haven't sold my heads), I think it's a combination of retail holders as well, who are selling with the expectation that placement recipients are dumping due to the 1:1 oppies and perceived value. When the perception exists that the price will go lower, the market will usually dictate that course.. in the interim at least.

If placement recipients are counting on that strategy, it's a fallacy because without tangible positive news, there won't be any buyer support on BYHO to support placement recipients dumping the 1:1 oppies.

The fact remains that the fundamentals are strong and it's ridiculously undervalued at the moment. Either way, the sooner they're churned out (those who don't understand the fundamentals), the better.

Between **anintha, Windalah and the OMH Manganese JV (excellent landholding encompassing high grade historical MN mines), there are more than ample irons in the fire to generate positive developments for a re-rating. The company is now well funded into the new year.

Personally I'm here mostly for the Manganese JV. Windalah is a complete punt, however Mn will replace Cobalt, that's a given. Not hard to replicate E25 or FRB (who I think will have issues with native title).