Hmmm, a placement to raise 7 $Mil from 'overseas institutions'...

Hmmm, a placement to raise 7 $Mil from 'overseas institutions' and sophs.

Maybe the OS crowd hasn't been reading their Aussie news about how the commies in the guvmint are out to ruin Australia's mining industry (or maybe claims to that effect are somewhat exaggerated ... nah, this is what the hot copper brigade are saying: it must be right).

Anyway, I digress: it was recently opined in this forum that:
"no stock goes up 10% on reasonable volume before a placement. Find out in a couple of days .."

The observation is generally valid, but the placement is modest in scale and there no discount to the recent SP (placement @ $0.18).

This is usually a good thing - instos and sophs have presumably been sold on the idea that 0.18 is a discount of sorts.

Discl: holding just a tiny bundle (of ROYO). Considering increasing my position.