Ann: Oversubscribed $10 Million Placement-OKU.AX, page-3

Appreciating the dilution effect of issuing shares, the single greatest duty of a
resource manager is to ensure there are sufficient funds available to explore and
prove up the deposit.

I assume that the privately arranged placement of shares achieves three things:

Funds a big drilling campaign with lots of opportunities to declare results
to boost our SP along.

Indicates that the institutions and sophisticated investors saw our company
in such a light that the raising was significantly oversubscribed with strong
demand from both domestic and international investors.

Places the shares into safe holding hands that probably won’t trade until
the SP achieves a worthwhile profit.