Flow-through raisings are normally at almost double the current...

Flow-through raisings are normally at almost double the current SP, so it should be at around $2.70. Having said that, most market participants only ever seem to focus on the sell-on price which is half that, so as usual we're likely to see an illogical slightly negative market reaction to it. On the face of it the timing seems poor, since we're at a low ebb at the moment, and we've been told that assays will soon be flowing regularly. Could it be that management have read the current market conditions as conducive to further falls in coming months? If so, and if they're right it could prove to be a very timely CR, just as the one in early February was. Our management team are anything but idiots, so I think we have to take the view that this can't be a bad decision.