my guess $17 million, page-3

There are no sophisticated investors int he SPP, as its not within the philosophy of FNT and Peter who reward existing holders. Much better to have 100% holders buy in that bring in a someone who may only look to the short term. Also by getting your full quota it limits your personal dilution.

As for an amount, more than the 8.5m they were after. Very happy with that figure as it will fund the company to what they need done and hopefully the next CR will be in the dollars to move to the next stage "production" at some point.

As for boxhillnorth. The raising at 4.5c with options that was under subscribed was int he middle of the GFC and after the government screw up at Kokoda. The dynamics of the company and the market are very different now. AS been stated the market has already shown the SP is currently undervalued on its potential. Mainly due to consolidation and external market events in the last month.

Hopefully they'll be on the ball and have the results early next week.