I have to admit, having read the letter, the wording didn't come...

I have to admit, having read the letter, the wording didn't come across as desperate to me. In either event, it's my understanding (due to recent posts), that they are not bothered whether existing holders take up the spp, since they have secured enough money from instos!!

As I said before, I personally will be taking up their "gracious" offer....:):).....let someone else donate their funds. "Show me the money" is a good approach to adopt with these guys..:)...

I like your observation Hazardous, "why hasn't the price moved despite the recent postive announcement"??......This has similarity to the announcement around the 5/4/2007....Despite it being a long awaited and a positive announcement, the price didn't budge!!!!...and now we know why.

So, is there something that's lurking around the corner (that we don't know about), or, is it just the market being reluctant to buy into the stock without it being at least expense neutral??

Cheers