Ann: Results of Meeting , page-12

JD sought me out after I put the question to him at the agm.
What I took away was if there's an opportunity to raise you take it.. who knows where zinc or the market will be next week?

The recent spike in the share price makes the placement seem alot worse than it was. Prior to the agm, I of course attributed the spike to myself ;) however the reality is as per the price query response... the spike was attribute to the roadshow run by JD

Bringing on someone like RBS, they are going to want newsflow following taking up the stock. If there's a steady newsflow, these investors pick up on it, take a liking to the stock and often turn into LTers. Clearly the Jorc is part of the newsflow. RBS are in for the LT, they have done a site visit and are a large net buyer in the past few days. There are obvious advantages in having RBS onboard including coverage, liquidity and guarding against T/O. As an example, a deal between Glencore and Nyrstar and we were done. As I said earlier, you can thank RBS for that spike.

The process of building this mine is going to take some time - the target is 2013. They are not going to raise all of the money they need right now. Its going to be done step by step. The money from this placement will be used in part for pre-engineering work well into next year.

Talking to one of the other directors who would not want to be identified, for simplicity.. lets call him Adrian (sorry mate!) imo he thought and I agree that you really don't want to be raising funds too close to December, the holiday period and that's probably fair. He also had some interesting tidbits on random drills which they had done on the outskirts of the current program ;)

Personally, I recently ran a placement and its tough. Certainly, I'd rather it be over last week than this week! Regarding the oppies, I'm not bothered. These guys took a hit for the Company during the GFC and that has only been restored recently. No oppies had been issued previously and hell Greenland is not the best place to spend your working hours so yeah if it keeps this team together, they earned it and I'm all for it. All in all, I was pleased with the board, they seemed down to earth and savvy enough.