Ann: Trading Halt, page-26

Agreed. Was worried it would be just a botched sophisticated / retail placement like last year's raise with Patos. 

On my yardstick above, quality of broker, investors and quantum. No idea on broker, but if the investor quality is good then less of a problem. I am very encouraged to hear institutions and fund managers subscribed as they like to do this to get set and if they like the direction in the years ahead, will hoover up stock on market which means that the persistent sellers we've seen in the past meet persistent buyers. Obviously all bets are off if drilling doesn't perform, but that's the risk we take at this end of the market. $5.5m plus the $3+m in the kitty makes for a lot of funding and I'm happy to see them putting it into value building (these guys run a tight ship from an admin perspective). Extra news flow, plus good on market buying may really lift this if those intersections continue along strike and at depth.. Back to a buy for me.