Ann: Trading Halt, page-13

I can't imagine that this is an adhoc CR or just to "top up the coffers". I also don't think this will be just a group of sophisticated investors.

Firstly, with $4.3M plus the options money on hand, there is no desperation there, so its says to me that the CR will be on lucrative terms. I'd be happy with 28c; 30c will be a big buy signal; and <25c will be average.

I think the timing is also important, in that follow-up drilling at C.H.E. in underway so whoever is buying in is pretty confident of a positive result and zeroing in on the porphyry system.

It wouldn't surprise me if this is another large Cu/Au player buying a cornerstone stake in GRL. Maybe a large player already in the LFB, like Newcrest or Alkane?? There was something in the AFR a week or two back about Newcrest hinting at new discoveries to counterbalance the decline at Cadia and this might be a more productive way of doing it than a farm in after the fact (ala the farm in with GGP with Havieron). If it is Newcrest then prepare the rocket fuel for the SP.

All conjecture and we'll know soon enough. In the end the potential is still there and we wont be disappointed. This will be back testing 40c in no time and the sky's the limit after that.