placement strategy, page-4

Hi Nick,
Management do give a stuff about Loongana and think that nickel mineralisation exists there and have budgeted and presumably commited to drill this quarter. They can't really just abandon it, to go back to if Narracoota doesn't work out, even if they wanted to. They'd never get any support for that approach.

There's no way of knowing who has bought and sold since the 8th, but there hasn't been a change of substantial holding notice and it would be pretty amazing if all of the people holding on the 8th have since sold out. There would be a lot of new holders, but also plenty of churn.

A you pointed out, there is a risk that they could fall back to 8c, which would probably mean they'd have to raise money at 5c per share, which is 3x worse than the current placement price.

If they don't follow this with worthwhile news, I'll agree with you and it will say enough about the management to keep me out for good. At the moment, announcements detailing more aggressive exploration should be expected and if they arrive it's money well spent.