here comes the nickle deal, page-6

Who said there was a resources boom? Not so long ago this company hinted that they might soon become a gold producer.
Today they announce a deal with Lion Ore which will see work start soon on exploration for Nickel.
Today is also the last day for conversion of options which are underwritten anyway. And how did the market respond?
Not one trade. Zilch! Nix! zero!
Guess that is encouraging in one way - those who hold [like me] are happy to keep holding. But it also means no-one was prepared to pay 22 cents for the shares on offer,even though the underwriter is committed to paying what could be millions at the rate of 20 cents per share. Looks like Aussies aren't really interested in prospective resources companies after all?