why announce a capital raising now..?, page-22

The recent trading indicated that a cr was on its way. This was evident with the way the sp struggled to move over 20 for last few weeks. Since the talks were already going on, it was only a question of not whether, but when. As many of us thought, if Cooper was a success, the sp would be higher and there would have been less dilution. This option was also being considered as I had come to know, but it seems in the end the company went for the practical approach. Frankly, I was hoping they would wait, as this was another option mentioned. So personally I was hoping that the necessary evil come later, but reading some of other's posts, this also makes sense. I know that at this stage there was a lot of interest and maybe management thought this is an appropriate time. Maybe the history also made management think of playing it safe. If the goods are there, we will rise one day. Lets hope the terms of cr are good and with resumption of drilling this week, the optimism sweeps away any negative effects of this cr quickly.

Anyone have any idea what is happening backstage - who, what price, how much.

-dc1234