Happy to be corrected if this is wrong....not 100% certain...but...

Happy to be corrected if this is wrong....not 100% certain...but here goes...

Can anyone comment on what these deferred shares mean?
Deferred shares arise when a company wants or needs to reduce its nominal share par value, usually for fund raising as any company cannot create new shares at a lower price than current par value. Deferred shares seem to have no practical use?

Are we effectively reducing the value of all shares of the company or just those in the placement?
Par value is reduced yes for all shares but par value is not share price and shares will still trade at whatever price the market dictates. The value of the company remains its assets,potential/number of shares in circulation.

Will this placement heavily reduce the net worth of this company?
I read worth & value as the same thing so for me, no.

Will our shares be converted to deferred shares?
all existing shareholders investment remains as is & we should get the same amount in deferred shares, but really they have no value or worth.

of course there is dilution with the new shares being created, another 148,888,887 added to our total...but then again Mick has A$560,000 to spend on extending & improving Molyhil & Spring Hill...

check this out, probably explains better than I can...
http://www.investorschronicle.co.uk/2011/11/11/your-money/rebuilding-capital-sXHiEj2f1RFuDUB0yUk0qK/article.html;jsessionid=9FC961119E6148B198BC872D989DCF14.mps-apr-01-8104


waiting for some good news Mick...please...anything...
gl
MT