Ann: Rights Offer and Market Update, page-6

Hi Finch,

$3M mc if it falls to the 1.4c placement price; otherwise, $4.3M @ 2c, which is fine really.

I think they're on-track with the last guidance by the looks (like you say, small profit).

I'm going to participate because it's really not going to cost the Earth and will get my average down to about 1.8c.

Holding with an average <2c, you're only real risk is insolvency imo and of course opportunity cost.

Would have preferred to see the offer underwritten by a broker to generate some potential liquidity in the stock but not to be.

The little rally, prior to TH was interesting.