To be honest I dont believe SMY told porkies as such, they...

To be honest I dont believe SMY told porkies as such, they probably innocently got the numbers wrong. They would be in detailed engineering right now and must have got a few surprises in the numbers so perhaps their feasibility was poor in this area. I dont get the impression that SMY over inflate or misrepresent what they have (unlike others). You never see companies apologise to existing shareholders though do you, as effectively we the shareholders still have the same project, but the cost of getting it together has just gone up by $8 million, which is why the placement was necessary. Existing shareholders are definitely worse off as there are now more shareholders owning the same asset.

With respect to "manipulating the price down" tokyo I cant see the logic of why this would occur as it is in the company's interest to get the best price for the new stock. The price fall would have been a few with wind of the placement getting out in case the placement price was a low one.

acturtle