how good a deal is this!!, page-15

twistar
at the very least, this deal has contributed to the removal of a large number of placement shares from the register (funny how the volume spiked a couple of days prior to the announcement).

Of the maximum 30M allocated shares in the Dec SPP, only 13.4M were taken up - a bit less than the number traded today.

On the other hand, Pattersons and their clients took up a whopping 76M shares in the 5c placement.

Clearly a large number of these shares have been sold on market in the last couple of months (and are still being sold), for a tidy short term profit who can blame them - I would probably have done the same thing because like most, I like fast, easy money.

If you're here for the long haul, I don't see how this diversification into gold-nickel would be a bad thing - especially given the quality of the previous exploration hits and the price paid for the tenements.

I'm mainly here for the zinc and phosphate, but management seem to be on the ball here imo.

The final exodus of loose placement shares can't be too far off.