trading halt, any idea?, page-11

"as expected big discount and retail non-renounceable issue: the last resort of a desperate company"

WHy a desperate company? Its hard to raise funds at the moment for small explorers. If they were desperate they would have gone to "sophisticated investors" who will dump the stock after a small profit and keep the SP down.

I am surprised byt he size of the discounts but I assuming they are trying to maximise the number of existing investors will buy in. Given they plan to drill Irak as a main concern with the money, then its a buy with potential great upside given the recent assays from Irak. I'll most likely be buying it for my allotment but during the process I would expect that we get an update from the company that drilling is being setup or underway before the SPP closes to build more confidence.