Ann: Renounceable Rights Issue Update and New Prospectus, page-84

Hi Chris, you can simply apply for extras on the entitlement and acceptance form

Sure you can. And I will.

I'm taking about when after the offer closes. With the share price close to rights issue price, it's likely there will be a significant shortfall & the company has stated it has 3 months to place any shortfall.

I'll give you an example:

Late 2014, AGS announces a right issue.
22/01/2015 AGS announces rights issue has closed with a significant shortfall whilst noting they are able to place the shortfall within 3 months.
23/02/2015 AGS announces they have rejected an offer to purchase their stake in a producing uranium mine

Share price surges on the news.

Suddenly that shortfall starts to look pretty good. Company obviously starts getting queries from investors regarding filling the available shortfall. I was one of them.

25/02/2015 AGS announces they've completed a book build & closed the shortfall. Almost all of the shortfall was filled.

That's a scenario that could play out here. HAV closes rights issue with a significant shortfall. Sometime in Dec, HAV may well announce a PFS for Kalkaroo that shows a NPV for Kalkaroo far in excess of market cap. Share price might (or might not) surge on the news.

Should it do so, the shortfall will look attractive.

On another note, I cannot understand how the Directors said ok to the Bergen
subscription deal.

Two possible scenarios:

1) Company is desperate for cash OR
2) Company is confident of near term share price appreciation. Should scenario 2 play out, the Bergen deal will look pretty good.