go franky baby, page-54

Owoo,

there are a few reasons why the SP has gone up:

- the more shares you buy the more discounted shares you are entitled to because (it appears) the record date is in the future (willydel may well be correct about this)..

- the market hates uncertainty ...the uncertainty is all gone because the offer is fully underwritten.

There is still a continuing underlying theme from a few posters (who may like the SP to go down) that the dilution is a problem. Most of our dilution will be from cheaper shares going to existing shareholders ...so for that part of the placement, ownership of the register does not need to change. Even if fully committed, after the record date, any holder can sell enough shares to participate fully in their 1 for 7 allotment. Thi8s means there will be a minor sell down just after the record date (a bit like going ex-div) ...but if the current SP it then 3.5c, will anyone care?

I won't care, I will be seriously happy!

We also need to remember that the news in teh next few weeks will be like a sling shot, as it will be a bell-weather for the results expected for the next 100 or so wells.

Cheers everyone.



John S. All IMHO

spj377645 (at) yahoo.com.au