I expect that the next lot of news will be the final numbers for AUROA conversions. A stack of them could have left to the last minute.
Re the underwriting, I wonder when this became a serious possibility. Was that the time to put the clamp on drilling news? - or anything else potentially price-sensitive? It would not have been cooked up at the last minute would it!
Also, what would Somers know that we don't know? Hmmm! Anyway, it's prepared to guarantee $1.25m, so if it has heard something that we haven't then it would not have been negative.
Somers managed the placement to JP Morgan UK. Has JPM UK promised more money?
It's all tantalising, but frustrating at the same time. Drilling news??
Ann: Option Underwriting Agreement, page-16
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