The spp details are good, market likes it too by the lookFree...

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!