spp result, page-6

Disconnect continues between market sentiment and those that coughed up $4.5mil at 5cps.
Does anyone know who Eddies SI's are. I note ITC haven't used a broker for their placements over the last two years.
I think the last time was Euroz in 2007.

My guess is the SPP supporters are probably the SI's that supported the placement. Perhaps cutting short the placement to re direct some funds to the SPP so at least some takeup could be reported.
In other words, the Chairman and a small group of people associated with him provided the bulk of the $4.5mil raised, with small shareholders providing pretty much zilch, imo.

Anyway, the Chairman and Co obviously believe "this time" they're onto something.
Either they're mad or the market is wrong.
Bought a small parcel based on Chairman's and his associates support for CR, but mindful that he's been throwing money at ITC for years without much success.

Also had a good look at the reserves targets from planned appraisal/exploration outlined in the HY rpt.
A rerate to ~6cps looks doable if they achieve roughly half their targeted reserves from appraisal/exploration drilling, with upside to ~8cps if they get the full "gross" 7mmbls from Growler/Snatcher etc, which I doubt.