ody; gas prices, page-2

Ive been around share issues of miners in trouble for long enough to be prepared to have a pretty good guess at what is going to happen to Maes capital raising ,and what the companys probable near-term future is. Firstly , a reading of all that Mae has said in the last week or 3 clearly indicates that the directors either believe that Mae has a future beyond Xmas,or KNOW it has.Prediction : Mae is about to get a significant shareholder- a "white knight". The issue is to be non-renounceable, no absolute signal of probabilites there as it is common knowledge that to go to shareholders with a renounceable issue after a long period of falling share prices just wouldnt work. A non-renounceable format is a common practice amongst (Oz )miners when there is a party prepared to support the company (and himself)who can secure a decent holding at the probable all-time low without offending shareholders , provided he will take a few,or a lot (of shares). In a very small listed miner it is often the directors who back the company( and themselves) in times such as these,but I am talking about miners a lot smaller than Mae. Mae doesnt need ODY to put up its money. Further- Mae are not especially concerned if you or I do ,either( they will know that there will be a significant take up if the issue is UNDERWRITTEN so the white knight,who IS the underwriter, wont get saddled with more than a significant minority % of the issue). The white knight has got to prepared to take 5%, or 35%. And be prepared to stay with what he gets delivered to him. He has got to have deep pockets,and be prepared to accept only a small quantity of shares if the issue is viewed "too" favourably by you and me. He will be well connected to the point that he will have a sub-underwriting panel prepared to pick up shares if he gets "too many". Note the comments about the $6.5m issue being "heavily oversubscribed". A meaningless statement in itself but if you follow what I am saying about how these things work you may be able to see how the white knight is ALREADY in place. I say again- the white knight and the underwriter will be one and the same. Features of what is likely to happen if the well-tried format I am postulating happens is that the issue WILL be underwritten, that there wont be a lot of razamatazz to get you to subscribe to "save the Company", and that there wont even need to be the production figures we have all been sweating over to get you excited before putting up your funds. We shall see.