like it or not

There will be heavy selling preasure from current shareholders from now until take up of rights issue as they look for money to fund the take up of rights.

And for those of us with sizeable chunks in our super portfolios. that selling preasure will be alive and profitable all the way down to the low 30's, so that great white is giving us all a sly grin.

Lets hope thatthe collectinve funding of the rights issue entitlements is outweighed by new shareholders desire to get on board. I couldn't think of a better time for Hamish to announce he has the first of multiple offtake agreemnets in the bag; of course this is nothing more than greedy wishful thing on my part but it would be the tonic that just might draw a line in the sand for the share price.

Oh and I guess I have to admit I was wrong that Hamish might be able to get an offtake partner to fund part of the purchase / construction / working capital costs a la Continental coal. I guess it was too much to ask pre final approvals.

Any how lets all take a deep breath and count to three and consider it was not long ago we were wishing it pat the 20c barrier

Viney