placement, page-36

I'm also a long term holder and am not particularly impressed by the $1.05 placement price. I'm not really sure why the funds are needed so urgently, after all, drilling in 2008 isn't due to re-commence until April. Between now and then there could be several announcements that could have pushed the share price significantly upwards from its current point. Hmmn, seems that Paterson's are getting a pretty sweet deal that I'm not sure is exactly in the shareholder's best interests. However, I'm prepared to see what is announced over the next few months before being able to pass judgement as to whether WR has done the right thing.