positive placement, page-16

Ab said:
"If the company is so good , make them pay 45c a share to get a big slice of the pie."

I agree with the sentiment of that, but it is very, VERY rare to see an institutional placement without a slight discount at least. If you asked 45c and last trade was 43c i think you would be laughed out of the room or just ignored....the "sophisticated investors" would answer "we'll buy them on market, slowly if necessary....and if we don't get a discount we'll put our money somewhere else that does give a discount".
I've taken part in a couple of PP's myself, and its pretty much a given that there will be some discount.

This is simply one of the unpleasant realities of investing in small mining companies, and if you don't like it, tough, go and buy Woolworths shares.
In hindsight it would have been better to sell the lot last Thursday at 45c, but at the time i thought that was still too cheap, and i still think that.
And anyway, we all had the opportunity to buy under 37c just a few weeks ago....I did just that.

Give it a few days and it will be back to business as usual....in fact knock 40c over (we've just hit it) and we could end up closing back at 43c.

BSM have a habit of making a little bit of cash go a long way.....they will probably do so again this time....

If it speeds up the Gold decision, and puts us on a few Asian investors radars to boot, I can live with it.....it certainly isn't going to upset me enough to sell.

And i'm not so sure the new investors are going to jump ship for a 20/30% gain on this one.....if they've really had a decent look at the numbers they may just want to stay on board.