opening price predictions, page-3

Entitlement offer closes at 11am AEST 16 June 09. It should come out of trading halt after 11am AEST.

Entitlement offer 698,817,324 x 1.1 = 768,699,056
Uncon. Institutional offer 209,645,197 x 1.1 = 230,609,717
Cond. Institutional offer 909,090,909 x 1.1 = 1,000,000,000
M Rowsthorn offer 137,083,001 x 1.1 = 150,791,301

Total fund raised: 2,150,100,074
Existing cap: 698,817,324 x 1.68 (avg $ for last week)
= 1,174,013,104
Total cap after offer = 3,324,113,178

New share issued: 1,954,636,431
Existing shares: 698,817,324
Total share after offer: 2,653,453,755

New price $1.25/share.

Estimated price range between $1.20 to 1.30.

Should stay in around this range until closer to the EGM, whereby it will start to rise slowly due to reduce solvency risk.