placement $30mil at $1.65, page-14

Obviously some of you guys think that in the current financial environment the company would have been able to raise a similar amount of $$ by placing at a higher level. Fair enough. I disagree.

I believe this company is going places but certainly don't have any spare cash to spend. Probably I could scrounge together a bit for a placement at $1.65, but not $2 - for me around $1.80 would have been my level. We all make the calculation for ourselves and obviously the company's management have done so and made this calculation. I for one am prepared to back them. Particularly given the circumstances that the company's single biggest investor recently sadly died. Who knows what level of support ROL has from Talbot holdings now? That is information that only the few in the know at the top level of the company and of Talbot can really know....

So from my perspective the company has sold some shares at a small discount to what I myself would have been prepared to pay... and saved significantly in admin and other sundry costs.... at the benefit of getting some instos on board. IMO this is of a far greater longer term value to the company at this stage of its development.