Spider - that's not really a fair and logical argument at all...

Spider - that's not really a fair and logical argument at all mate.

The risk on the date you bought differs to the risk on the day of the placement.

There has been significant news since your purchase which has arguably de-risked a portion of BRU's assets. The good results have also expanded its potential. This is arguably a solid reason for increased stock price we see now. Further more you have the take into consideration the full suite of world macro changes, politics, oil price dynamics, etc. etc.

As time evolves - risk profiles change.

I'm glad that this issue of equity regarding placements is being discussed. With the current proposals to change the capital raising yearly dilution levels(15->25%), this should be a thematic topic. Especially to punters on HotCopper, because the stocks discussed on here generally have balance sheets that require continual capital inflows.

As for BRU. I have to re-state again that in this instance I am happy with the result of this raising.

Generally speaking though, I am not a fan of insto only capital raisings because in principle I believe them to be unfair to the equity of retail holders.

From a business perspective I understand why they are a good option.

From a fairness perspective, the field certainly isn't level.

Perhaps we need a better system then the present one. If people can make a living out of fractional lending models, then why can't they make a living out of developing a fractional share allocation model which is efficient and allows those who are interested to commit small values of capital in tight time frames have their demand recognised in the market.

My $0.02.

Cheers,

Peggs.