some poster mentioned that the delay in announcing the freebie...

some poster mentioned that the delay in announcing the freebie date, was because the company was preparing a prospectus, which would indicate a public issue

watso of course might be totally wong with his suggestion, but that could well indicate that the company has had problems with doing the rounds, and hawking a placement.... just think about it

a placement is quick and easy - a broker collects a fee for organizing the placement (if he can find takers)

a prospectus issue, requires all sorts of reports, - independent geologist, accountants report etc etc - and that all adds up in costs - and then after that, if an application is received with a brokers stamp - then the broker still collects a fee.

would strongly suggest, that if it is true, that the company is preparing a prospectus, then one would presume, that they are not all that confident of too many shareholders exercising their options, to take advantage of the freebies (which in the end, would probably be reflected in a lower share price anyway

the bottom line, seems that there is really an equivalent of a overhang of 20m shares that will need to find a home - and that should put a lid on the shareprice for some time