Ann: Trading Halt, page-4

The word on the street is a $25million raise @ 28c, with overs up to $5million at directors discretion.
The institutional appetite has been huge i believe. This is a massive endorsement for this stock, how many small exploration companies could raise that sort of cash in this market?, not a hope without insto support and to get that you need to be able to clearly demo some real upside. So maybe the instos have done their own calcs on the value of the coming resource upgrade?? I would think so.
It screams the boundless potential of the project in the coming Cobalt mania. The Coy will have the cash to drill the hell out of this thing next year in a booming Cobalt (and Copper) market, the upside is huge.

Some one questioned 'major holders selling'......dont be misled!!. Regal Funds Management have been a seller, BECAUSE THATS WHAT THEY DO! they are a hedge fund. They were in the stock a few years ago and lost money because they just didnt want to stay on board . This time they took placement stock at 15c and have sold part at circa 30c...thats the business model...it has nothing to do with the potential of this thing.
Souls have also sold part of their holding. Readers will recall they lodged notices of sales when the stock was 15c....they stopped that when somebody tapped them on the shoulder and said "thats a pretty silly thing to do"....
and the stock is now 30c.
If you have a look through Souls web site you will see they have sold a swag of smaller stock holdings in recent times, and you dont have to look far to find a reason. They are a one third shareholder in TPG; that company has fallen about 40% in the last year or so after some rather large capital raising of which Souls coughed up one third. TPG spent over a $billion on a Govt mobile spectrum auction and by some reckoning will apparently require another $2billion or so in capital to realise its lofty telco dreams. I can understand Souls not wanting to hold too many smaller stocks in the light of that sort of commitment.
Get ready...this is a market top performer in the New Year