Davo et al,I'm not sure how many shares they are going to issue...

Davo et al,

I'm not sure how many shares they are going to issue to list on the TSX. My hope is that it may not be as many as people fear. The strategy as I understand it is to move shares from an investor base who does not appreciate the merits of the company to a base (North America) that does. ASX shares can be moved over to the TSX to provide some (most?) of the TSX shares.

It may also be that the Convertible note shares are to be listed on the TSX. Like RFE, whover is lining up for the notes wants the SP held back to get the best deal. With the board buying up, I assume the price has been set but the ink isn't dry.

Like Davo it seems clear that they will need extra funds for their wells - chash flow alone wont cover it. Howevere, there are alot of moving parts to this story and its not as simple as need funds = lets do a CR. For now its in the interests of the big players to keep the price down and that is where it will stay. The Board probably recognises that and news flow has been turned off.

Holders who believe in the fundamentals just need to take a long term view and not get spooked.

And Wb - no dry pwoeder I'm afraid.