deja vu - placement

Reading todays announcement it looked familiar. Here's why - it is the same as the 3rd july announcement except the placement and dollar amounts are far different. (See below for excerpts from both).

I'd like to know what is going on here - it seems highly misleading to make an announcement that a placement is complete and then announce a month later the same thing, except an extra couple of million dollars have been added to the amount. !?!.

Whats the point of issuing options at 25c if they then go and dump stock to sophisticated investors a month before expiry at heavily discounted prices.

What is going on here?


From Announcement 3rd July 2009:
The Directors of Hill End Gold Limited (‘the Company’) are pleased to announce the successful
completion of our placement of $2.9 million with the issue of 17,080,670 new ordinary fully paid
shares at 17 cents per share. The funds raised will be applied towards an aggressive drilling
program at the Company’s highly prospective Hargraves BNH deposit and the extension of
resources at the Reward Gold Mine at Hill End. The first assay results from the underground drilling
at Reward are expected in the next few weeks and the drilling program at Hargraves will
commence in July 2009.

Now from Announcement 12th August 2009:

The Directors of Hill End Gold Limited (‘the Company’) are pleased to announce the completion of
its Placement announced 24 June 2009 with the allotment of 28,444,000 ordinary fully paid shares
raising $4.835 million before costs through sophisticated investors and institutional clients of Sino
Investment Services Pty Ltd. The funds raised will be applied towards the aggressive drilling
program at the Company’s highly prospective Hargraves BNH deposit and the extension of
resources at the Reward Gold Mine at Hill End.