Ann: Secondary Trading Notice , page-6

tedroo, I found this from this year's annual report: (p. 60)

"During the period, the Company issued 76 convertible notes with a face value of $50,000 each to raise $3,800,000. The funds were raised for application towards the auxiliary support equipment for the GT3000 drill rig (required to commence commercial operations) and general working capital. The convertible notes bear interest at a rate of 9.5% p.a.
During the year ended 30 June 2011, 12 notes had been converted to 4,767,450 ordinary shares (amounting to $618,032) leaving the Group with 64 convertible notes at an applicable interest rate of 9.50%. The convertible notes are due for repayment in February 2012, unless the holders choose to convert the notes to ordinary shares in the interim."

So hopefully this blatant manipulation may ease from Feb and we will have better financing arrangements next time? On the flip side it could create a buying opp. for LTers with cash between now and then..