Boom Trader,Holders have not had a long time to decide. Yes this...

Boom Trader,

Holders have not had a long time to decide. Yes this has been flagged as an option but the fine details were just released. At 3.3c and your oppies currently at 2.1c why would you exercise them? The oppies are long-dated anyway. If you were going to fork out 3c you may as well fork out 3.3c for the fpo and keep your oppie. This is not about long-term decisions, this is about whether your 3c is worth exercising now or not.

K so there is no underwriter but which investors will be receiving the shortfall? Will it be a general offer or a closed offer (often in effect the equivalent of an udnerwriting)?

I am not a conspiracy theorist, I am a shareholder with a signficant interest. I am all for the method the company has chosen to try and attain further funds, I just question how successful it is going to be under the current conditions. The shareprice will have to rise significantly from here to make it worth option holders while. Maybe they would have been better off waiting a little longer (even an extra 2 or 3 weeks) to allow the impending results to be announced. Or as I said, are they really not that interested in option shareholders exercising their shares?

If the lack of exercised shares does mean someone else pays 3c for those shares, I would see this as a big positive regardless, nd the $7mill raised will place them in a very good position to drill the life out of Tennant Creek (where they have most of the money earkarked for).