Thanks Gerry,Makes a lot of sense. The only query I have with...

Thanks Gerry,

Makes a lot of sense. The only query I have with that is there would not of been such strong buying in the last week or so for a placement. fridays close was like a race with buyers jumping over eachother.
invariably placements are done at a discount to the market price and this would not result in substantial rise in the SP or volume of the share....as far as i know.

I HOPE its not a placement more than anything but your calculations look spot on so they should be needing some cash you'd think.