Totally agree with you Nick, 2 extra lines of sentences to...

Totally agree with you Nick, 2 extra lines of sentences to mitigate the effect of CR & also grab market attention once again. I would have thought the mgmt now knows how to write up a good announcement judged by their recent reply to the speeding tickets, so am a bit disappointed on that front, but I have to say there are positives in that announcement too, after had another look:

1. placement at 25% discount to fri closing price, not a lot considering PEK placed at 8c when trading around 12, GTE at 12 when trading above 20c. Seems like they r merely doing what everyone else is doing.(this deal is probably negotiated when the market price is lower than 20c anyway).

2. PEK & GTE both have a lot more placement shares coming onto the market now and we havnt yet seen a sell off. with only 2.8m shares in RHM's case, at such a little premium to 15c, i doubt these placement players want to get out now. Having said that, disappointing announcement plus Dow tanking on fri, id expect selling pressure early Mon morning, but I have no doubt there'l be a lot of ppl including myself waiting at lower prices to grab more or some who are still waiting for a lower entry after missing intial run.

3. I agree with the other poster. Grab the cash now while the thing is still hot. IMO MD wont want too much dilution himself just like the rest of us, so the deal is somehow done quite smartly. Raise some cash now in case shit happens, & Howard get to work on the exploration program asap (at least come up with some plan just like CYS did), hopefully pumps up share price before AGM, & it's not like we dont get to vote on the remaining 7m placement shares at AGM anyway. If the share price is a lot higher around AGM time, it's likely the remaining placement shares will get voted against, wont it? This way Howard secures some cash now, minimise current selling pressure to not kill momentum & subtly working his way to pump up the price.

All my guess though, but wonder if someone minds emailing/calling the company to come up with a revised announcement on Mon morning with a bit more details.