placement, page-15

wobblyboots,

Unfortunately the market is very short sighted. I was not surprised to see those sellers at 1.7c

They see the word capital raising and they automatically press the sell button presuming the stock will go back to the placement price.

When I spoke to the company last week they were as confident as they could be that the financing would proceed.

That's why I have been buying more at these current levels.

The capital raising at 1.5c was such a small amount compared to the number of shares on issue.
It has hardly diluted the company to any great degree.

At the end of the day you either believe that they will get the financing done or you don't.

If I didn't believe, I would now be selling rather then buying, irrespective of this paltry raising.

As I stated yesterday sometimes capital raisings can come as an advantage to acquire more stock at discounted prices.

I doubt very much that I would be able to buy more stock at these levels without the raising announcement.

I then decided to take advantage of that opportunity.

In my opinion with the news pending I would have anticipated a share price closer to 2.5c rather then 1.8c.

But that's just my opinion.