Ann: Mt Ringwood Maiden Drilling Program and Placement, page-47

Hmm, my suspicious side suggests that this private placement could be to the same individuals that participated on the 23rd Feb, who have then used the recent SP rise to offload their initial placement holdings and to rinse and repeat for the second placement. Easy money for some.

Another 28M shares to absorb and today's announcement says this round of drilling is now fully funded. Hopefully these placement shares are a bit stickier and allow further share price gains from here.

SP still looks low relative to the potential. Some big gains to be made if they make some good hits whilst drilling. I would have thought a mkt cap of $4-5M by commencement of drilling wouldn't be unreasonable, based on the potential.