fully underwritten canadian capital raising, page-10

chris

I understand why you remain confident on the placement
succeeeding as you want to believe sp will turn around
soon but his email clearly states there are events
which can lead to the underwriters being able to pull
out.
As I said previously I had a more detailed conversation
with him and we discussed the sp trigger at which
they were allowed to not underwrite it and he could not
recall what that price was.This conversation took
place when the shares were more than 20c higher than 1.65.
Even if the underwriters are forced to take it up
I dont see this as being a major positive either
as while initially there would most likely be a bounce
you have to remember that there are 10,500,000 that
the underwriters will want to unload as soon as there
is any sought of recovery to around 2.16.
As a concidence the average exit price I achieved on
my very large holding was 2.158 and how sick would
I be feeling if I was still holding.Answer:VERY !
Meanwhile I have invested part of these funds in MAK
which has a much better risk/reward scenario.