The part that pricked my ears up was where Kevin said that support for the placement was very strong with a number of international and domestic institutions taking part.
Also, that we can only buy a maximum of 20,000 shares @ .10.
IMO, this is a good indicator for not only the outside interest but also the future opportunities once we start to see some figures on the board.
The downside from my perspective is that $4mln will be spent on the diamond exploration. If it wasn't for the interest in the IO, they would be lucky to rake up a couple of $mln.
Don't blame them for making the most of it.
I would too.
The FDLOA i don't think will hold up that well until after we start getting some numbers on the board from the drilling which will be a few months.
In the mean time it should provide some excellent buying opportunities along the way.
Will the oppies get converted??
I am certain they will.
What CEO wouldn't be vigorously aiming to have $38mln worth of Options converted by expiry.
Therefore its a hold and accumulate where possible.
All in all, not a bad outcome without "Pattersons" involvement. He! He!!
Cheers markco2
FDL
flinders diamonds limited
