petra report 1 march, page-2

Thank you for posting the link. The report abstract reads:

Strong demand for capital raising

"Alkane has received firm commitments from institutional investors for an A$77M placement (70.3M shares @ A$1.10/share). The placement comprises 2 tranches with $44M in T1 and $33M in T2 (key dates below). A further $30M is expected to be raised from a partially underwritten non-renounceable 1:10 rights issue. The placement was well oversubscribed with strong domestic and international demand. Funds will be used (i) to complete the EIS and advance the Dubbo Zirconia and Rare Earths project (DZP) (ii) construct and commission the Tomingley Gold project and (iii) for working capital purposes. Upon completion of the rights, the Tomingley gold project will be fully funded targeting first casfhlow from Q2 2013."

and concludes:

"We recommend buying ALK with 228% upside to our NPV of A$3.84/share."