The heading here is a little misleading. The placement is for...

The heading here is a little misleading. The placement is for 26million shares but for $1.3m. The important part of the announcement is:

"These Permits cover all of the Collie Basin and the Worsley Alumina operations. The Permits will be held jointly by Green Rock Energy Ltd and Worsley Alumina Pty Ltd with Green Rock Energy being the operator of the Permits. Worsley Alumina Pty Ltd will hold its interest in the Permits for Worsley Alumina. Worsley Alumina is a joint venture operation between BHP Billiton, Japan Alumina Associates and Sojitz Alumina, incorporating a bauxite mine, an alumina refinery and port facilities. Worsley Alumina is one of the world's largest and most efficient alumina refineries. A substantial proportion of Perth’s electricity supply is generated from power stations in the Collie Basin."

This gives GRK an association with real money and large interests.