Sentiment change, page-11

I think it will be about 1 for 3.
that may have been in the Argonaut report, but I worked it out a while back - it is about 1:3 or 1:3.5 - and the issue price is $0.00495 p/s.

what is interesting, is from memory, as Healyn was alluding to, whenever EGO previously did a cap raising it was usually a Placement. And the placements went to "friendly" brokers and their clients. And I reviewed the lists of some of the investors who received those shares under the placements (all from ASX info). and many, many were the same investors over and over again. And it appears those investors did in fact dump the shares for a profit. Raise funds at a discount via sophs, sophs sell new shares at profit, EGO gets replenishment of funds to keep paying salaries etc, and the merry-go-round keeps rolling on.

But here we have a new situation, where it is the long standing s/h who get the opportunity to participate in a discounted R/I.
Thus "IF" there is any upside once the R/I is completed, the cream will go to the existing s/h, not the fly-by-nighters.

What a refreshing change.