IMO the cap raising will be 400 million shares at 2.5 cents....

IMO the cap raising will be 400 million shares at 2.5 cents. Does anyone know if this replaces the $10 million placement they are talking about in the AGM or is it the same thing? It seems strange that they would go into a trading halt now even though the market was advised in the last announcement that they were going to do a private placement.

Iron awe if the share price was 20 cents with say 1.2 billion shares on issue that would give them a market cap of $240 million. Some how it sounds a bit high at the moment but I hope you are right.