The last SPP was so over subscribed ($59M) because the issue...

The last SPP was so over subscribed ($59M) because the issue price was so low and the record date was so far in advance.

If they want to tap into some of the remaining excess they will have to retain an attractive SPP issue price to market and to do it quickly because a lot of the available purchasers are clearing from the register as we speak.

They will want over all $$$ not a particlular share price, they dont care if the SPP is at $0.25c or $0.45 so long as they achieve the overall $$ raised.

Their main problem was the fact that they were unable to raise more the 30% of issued capital in one go. The additional $14.6Million will assist them to overcome this little problem in a second SPP.

IF THEY WANT THE MONEY THE NEXT SPP WILL HAPPEN SOON.

Regards

Stu