trading halt, page-12

I wouldn't be too happy about the words 'significant' in the announcement. All that implies is that there is going to be 'significant' dilution. For VOR's track record in using the word 'significant' in the same sentence as CR, see their announcement February last year

http://www.asx.com.au/asxpdf/20100216/pdf/31nqpwlg7bwnhs.pdf

But they put it to good use and look at how cheap the CR was compared to the SP now.

With Matthew Wood on the ground and his positivity and track record in overseas exploration tenements and selections, I dont expect to be seeing single digits for much longer IMO - but the current CR looks like to be putting the brakes on the SP for the moment.

Last CR was at 1.75 cents with a free 1 in 4 option. Look at the SP now. Current CR is probably going to be more like 5 cents but good value if you can get on it.

Foxtrot