alecfraYou seem to have your finger on the pulse of this...

alecfra

You seem to have your finger on the pulse of this one.

Your post the other day said:

The most efficient way IMHO is NOT to underwrite but allow to lapse and place at higher prices.....this would reduce the no of shares to be issued and substantially reduce broker commissions.....the real rouges in this situation.

With Hargraves about to be drilled ....should lead to many more ounces of gold and thus much much higher share price.

Its time for the directors to get off the conservative pot and put value to shareholders not brokers pockets.

By offering underwriters the normal 6%....most will possible go to sub underwriters will mean a entry point below 24c....not very commercial and its normally hot money.

If HEG have been clumsy (or is that drive a fair and reasonable price for shareholders?) in their underwriting negotiations, them ironically perhaps they have inadvertently done long-term shareholders a favour, at possibly the expense of some very short-term pain?

None of this changes what is in the ground and at least the placement has put some cash in the kitty to further the development of the resource.