The spp details are good, market likes it too by the look
Free option(10c strike. exp Nov 2011) for every 2 shares you take in the SPP(5c) + you get a shot for more if there is a shortfall
Fair, but it dilutes us by potentially doubling the shares on issue if the entire offer is taken
It raises the $ needed to get into PEL105 and our US activities will get a kick along so perhaps that dilution will be offset quickly if we get more cashflow from the US and start to prove up a resource in South Aus
Company is worth approx $7.2million now
After issue will have 280million shares with 70million options + ~$7million cash in the bank
Wont take much at all to improve our value as its near the basement anyway!
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good buying today, page-2
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