Hi Cham,"sophisticated investor", not sure about that one.I have...

Hi Cham,

"sophisticated investor", not sure about that one.

I have been called many things in my time, not sure how sophisticated I am though.

I have certainly participated in a number of cap raising's/rights issues over the years. Have a look at the risk reward on this on at the current SP.

A buyer this morning of $1m shares at .8c outlays $8K today, and potentially has the right to buy another 166,000 shares at the discounted price of .6c (subject to terms yet to be outlined).

They then get another 83,000 options given to them for free, worth $332. Hence all up, they get about 8% discount on purchase price or 8% more share of the company.

This is a sweetener already at current prices.....do the math once it has moved back to 1c...and then thats when the story becomes compelling.

I await the last stage of this cap raising most eager to participate and pick up some more oppies....for zilch.

Kiril.

I hold.