Ann: Oversubscribed Placement and Underwritten Rights Issue, page-5

I think short term tends to go the other way... existing holders who don't have the cash or don't want to put more cash in can sell at 42c (say) and rebuy at 36c. Particularly if you have made a loss you can crystallise that loss now and offset against any capital gains this year. Not advice - just what I have done in the past.

After the next few days/weeks should see a move up as people who were short (mindset wise) because of a potential CR start to buy up now it's funded for the foreseeable future and possibly to positive cashflow from mining.

It's a very bullish signal to fork out $3m to buy the smelter royalty. You don't get the backing of your major shareholders to do that unless you and they are very confident of a significant payback.

Onwards and upwards from here.

PS I'll be taking up my rights