am just reading the WCL announcements.Things that leap out at me...

am just reading the WCL announcements.
Things that leap out at me include:
1. CR is now $64.4m - not the $40m previously stated. This to me shows that the screamers who keep yelling "dilution" are simply on the wrong track!
1A. increase in equity raising clearly a result of the support shown by these two big, and very experienced investors.
2. fact that raising $64.4m says to me that WCL will now go flat-out drilling and proving up reserves in Dawson, Paranui and GB.
3. note Placement is at 55c !! That was above MARKET prior to t/halt - so New Hope and EIT were prepared to take such a huge stake without a discount to market - that's confidence with a big "k".
4.R/I is fully u/written - again confidence
5. remember AK will also need to stump up big $ - yet he is prepared to see other big s/h enter register
6. number of shares increases from 110m to about 250m. whilst two big s/h will get big chunk, today alone, there is 420+ trades - so the increase in number of shares should dramatically increase liquidity.
7. it seems that WCL expects there to be a shortfall in subscriptions from the R/I, as they project that NHC interest will increase to 19.9% and EIT to 13.5% - again confidence.
8. each of NHC and EIT is to nominate a new non-exec director - i am happy to see NHC on the Board - because NHC has S#*#loads of cash !!!
9. AK keeps refering to "abn array of exciting growth opportunities to pursue" - has that been articulated to us small s/h yet?
10. existing s/h are being well looked after, with R/I at 45c compared to new equity of 55c.
NHC and EIT both get to participate in R/I - plus get to u/write any s/fall. So they get one share at 55c plus one right at 45c - so i guess they get there s/h at minimum of 50c.
11. you wealthy s/h can also subscribe for participation in any s/fall
12. Nathan Mitchell already has an interest in 2.8m shares. He then wants his entitlement of another 2.8m rights, PLUS another 4.44m shares. That would give him 10m shares - or about 4% of expanded capital - again CONFIDENCE !
13.as highlighted by other poster, WCL now is in business with BG, Mitsui, New Hope Coal, Infrastucture Capital Group, plus Bumi and SAAD, plus nathan Mitchell. Not a bad group to invest our money with?
14. am confused a bit - i have previously posted that the Mitsui J/V was all about Mitsui getting hands on gas for LNG - that is confirmed on page 3 of preso. But in verbage in written release it also says WCL will be targetting LNG for domestic purposes? But they also confirm interest in small LNG projects - LOOK OUT F/L LNG ! Have a look at last paragraph Page 15 of preso.
15. WCL is now talking 250PJ x 2P and 1000pj x 3P in "near term" !!!
16. we are in for serious investment now - WCL now targetting "access to earnings and global LNG exports". Clearly WCL has a well formed plan to grow as the biggest independent CSG producer.

It seems to me that WCL is determined to become a serious gas producer with sustainable earnings.
Something like a small Santos?
Well, I am happy with that !

Go AK !!!!!