Ann: Entitlements Offer Closure and Shortfall Not, page-3

re: Ann: Entitlements Offer Closure and Short... It is all very strange. If they hadn't trashed the share price by making the placement at such a significant discount to the current trading price and driving the SP to about half its value, they may well have made a much greater placement to current holders on the rights issue. Ultimately raising more $ than they have with this "failed" rights issue. I personally baulked on the offer because I felt that the placement and rights issue at such a low price was extremely poor management and was always going to destroy the value of current holders which I saw as pure vandalism. Certainly ok for them though as you suggest Clement, if they are amongst their mates in being the only ones to buy in at such low values, and snap up the unearnt leftover shares on offer. Its easy to buy in if you dont already have such an overhang from much higher prices! I just bought my "rights offer" allotment amount on market at 7c rather than through the issue as I feel it can only head north for awhile as drilling proceeds and there is a chance of bouncing of such artificially low lows. But with DEG, as I've been sooo wrong so many times before it is a fairly uninformed risk! Here's hoping for some good results from the JV at Turner River which still seems to be right on track to development as a goldmine, some better results from Argentina, and some positive news from NZ. At least with this one, despite such poor management decisions around the placement, there is a lot of potential for an upside for once.