Yep. The Patersons placement last year was a disaster - produced...

Yep. The Patersons placement last year was a disaster - produced a wall of sellers (have seen it many times, they just do not have the retail book to do long term placements - they need to cycle clients in and out of deals to maintain the flow). 

What annoys me about sophisticated placements is that many of us have been here for a couple of years at least. Each time we finally see the stock move up it gets smacked down with a dilutionary raise which takes the heat out of the stock and we do not get access to the 'special' deal on offer. The problem with these new investors is that many of them just do not care about this story and know about it from a 15 minute plug from a stockbroker who probably studied physio at uni, whereas us committed shareholders who have a longer term view get stiffed. I will watch with scepticism, and think what to do based on 1. Quality of broker. 2. Type of shareholders (ok if a couple of institutions who accumulate on market once set). 3. Quantity of raising. This is a good story, but good stories can get destroyed by bad story-tellers (brokers). Meant to change my sentiment to Hold.