lodge partners report dated 4th july ???, page-3

Hey GG

Lodge Partners were the principal brokers for the the CR, so it's not unusual to write a report like this. I did however find it pretty in depth and quite balanced. Initially I thought that the cap raising was pretty poor form, but actually it wasn't at such a massive discount from the VWAP and actually the stock had overheated a fair bit and risen massively over the past year. The other point I think to keep in the mind is that it wasn't a large dilution and they are clearly aiming to ramp up their business, so if this helps accelerate their profit then I am behind the decision.

The action today and last night on the Daq shows that this stock has a lot of interest and could absolutely fly past it's recent high. We'll see though

Cheers