norwest seeks a$5m for aust./uk exploration..., page-21

I must agree d_chrome,

While I don't question the need for a cap raising following the failure of the oppies to cross the line (yes I was completely wrong on that one to my own cost).
I am mildly concerned about the timing of it.

Having spent many hours researching NWE over the past few months I am absolutely convinced that the fracing will produce some excellent results which will have a dramatic upward effect on the SP.

For management to go for a cap raising now at 5c would indicate to me that management do not share my positivity and thus felt it prudent to get a raising out of the way pre-frac.

I am reminded somewhat of MEO last year going for a cap raising at around 60c before a wildcat well it was drilling produced results. We all know what happened there.

I am still a holder in NWE heads and am unable to buy any more due to my over investment in a certain brown coal play so I am not trying to talk the price down - I just want to register my slight concern over timing and see if anyone else shares my viewpoint (asisde from d_chrome).

Sentiment reduced to HOLD for now

EB