general meeting, page-13

GXY is one of the markets darlings at the moment. It got up to $1.495 the other day. Currently sitting at around $1.35. Have a look at this extract from a current deal:-

"As part of the deal with Creat, Galaxy will sell $26m of shares at the pre-agreement price of 88c each, equivalent to a 19.9 per cent stake. Galaxy will also raise an extra $53m in the institutional placement, likely to be priced around the 30-day average of about $1.05 a share".

So if you go by what's happening at GXY, RFE still can have a decent rise above the $1.20 placement price. It all just depends on how the market is viewing RFE at the time.

Someone this morning obviously could see the fortunes to be made in RFE. Once we can get some buy depth back things will get back to normal.