nappamerri trough alliance with beach energy , page-47

It seems too often HC habitues either puff up their company management to Hero size .. OR denigrate them as poor quality substitutes for donkey bum

The harsh reality is that ADE after its quaterly report was sinking to the 8 to 9 cent level, possibily lower as investors/speculators/gamblers and others who play in the low cap area ( and expect instant gratification of wealth without the patience) got more and more nervous/distressed. A Cash Raising would have only got away if it was underwriten... extremely unlikely that an underwriter would have tried to set a price above the prevailing sinking share price ... so 7c was probably the go and the share price in this market would probably have gone below that ... and existing shreholders would have squeeeled squawked etc... Getting BPT who already had the foot on 4% of ADE ( there was never much chance of any other predator being so foolish as to try and steal BPTs lunch) to front up with 16.5 cents was a good effort and allows ADE and its main long term stakeholders the increased possibility of getting much more than 40c a share within a few years . DYOR