price of second placement, page-2

That's anyone's guess 2IC but I think they'd want to sure up their funding and in my opinion the 2nd tranche will still be at a decent premium to the price now but not $2.75 like the last time.

I think the both the Board and the Russians will be happy with somewhere between $1.50 - $1.75 I'm guessing.

If this does happen and we can raise another $50mil at the above premium, this will be MASSIVE news for us I reckon and we'll secure our future nicely with $120mil in the Bank thank you very much :)

All hypothetical but I also reckon the Russians will be desperate to buy the 2nd tranche in order to bring down their average buyin substantially but I think it will be a 2 way street and they'll be very happy with around $1.50 - $1.75!

Just my 2c worth.....