There is definitely more than meets the eye!
This issue appears to have been pushed by WPL. The sell off of 40% of the Enfield equity is obviously to do with future developments as stated.
We may see ching producing by mid 2005 at the latest and Tiof may be online well before we expect.
The placement at $1.10 is still an absolute disgrace in anyone's language. If they needed more cash they should have done a 1 for 3 issue instead of looking after those that jump on board after the risk factor is closer to zero rather than 100% as it was when most of us long termers got in!
This corporate underworld needs ASIC's immediate attention as this making money off the little bloke has been going on for way too many years. Its time shareholders have more of a say in the direction a company takes.
As a shareholder, I have felt like Santa clause the last 3 placements as many of us have!!
This will be the last placement or issue for a few years IMHO. There will be a sell off after it goes ex-rights from those needing the funds to exercise their rights. If the placement was necessary, the shares should have been escrowed for a certain period to stop these corporate stags!
PS Wonder how many shares that U seller is wanting to pick up before withdrawing the U sell?
Regards,
xmagx
HDR
hardman resources limited
