that capital raising, page-7

Yellowcake,
Believe RWD have moved up despite mention of capital raising because everyone is now aware the Presentations in Melbourne & Sydney were only about bringing everyone up to date with project. I think some brokers thought they were in for some big placement fees, when in fact RWD have said we will do it on our terms & in our time frame not a broker's timeframe.
After hearing presentations & realizing there was no immediate placement some brokers have now had to step into the market to buy the stock, hence the price rise.
Full credit to the directors of RWD controlling when & where they will raise funds for the project.
No one has thought about the possibility of say the Gascoyne Project striking say 50-60 metres of brine as outlined in their update. This information has been available to RWD because previous oil drilling results have reported these salts present in their drilling. Biggest problem is finding an experienced driller & rig who can tap into this zone.
A find of say a column of 50-60 metres of brine opens up the possibility of project No.2 on their hands.
We need to remember they have pegged some of the best sites in Australia because they were the pioneers on this resource. Seems RIO has been happy to peg around several of their prospects so I think this shows a major must respect their initial peggings.
Australia really has not done the work Canadians have done on Potash, yet we have geologically similiar areas that remain unexplored. Someone is going to find a major MOP deposit in Australia. When this occurs watch the sector warm up for companies holding good acreage.
Regards
Buffett
PS No investment advice given on RWD, please do own research.
Regards
Buffett