thx rights issue, page-13

I think you will find the Red Bore info in the prospectus is not new info; it's a legal obligation to cover potential risks in a prospectus, even if that info is already public knowledge.

As for the ring around to shareholders, that is not uncommon, I have heard about it before.

While I didn't object to the opportunity to participate in a capital raising at the same price as the sophisticated investors, I was perplexed that management seemed to rush through a rights issue just when momentum was building in the share price. Look at what has resulted. It suggests to me that they had planned a rights issue at 5c, shelved it at went with the other offering, then tried to take opportunistic advantage of the SP rise.

That's blown up in their face I'd have to say. And I have nothing but for disdain for the shareholders that dumped 750,000 shares on the market this morning. If their aim was to kill the rights issue then they have just about done that IMO.

If key shareholders don't support the rights issue that says just about all it can say for the potential of this company. At this stage I'm taking up my rights (and I have alot of them) but my patience is being tested.