I don't see what I need to clear up. The funds raised are a...

I don't see what I need to clear up. The funds raised are a "new" Placement not governed by the terms of the previous prospectus. That was the point I was making that the SPP had closed and couldn't accept oversubscriptions so it was down to the Pattersons placement to raise a furthher $5 million.

I also said that a trading halt wouldn't be needed if funds were being raised under the Pattersons top up issue as their rights and obligations were all fully disclosed in the prospectus so I further went on to speculated that the capital raising would be "new", ie new parties, hence why I said "Question I think is who are the new guys, how much is to be raised ".

So I called it right based on the last trading halt annoncement.

The company is lucky to have raised the full amount with the contribution of the Chinese as the original $5.2 million would not have been enough to move the project forward.

What can be said is that there was little appetite from Australian institutional investors so you are still largely in the hands of the Chinese which personally I don't have much trust in to look after Australian equity investors in the long run. Esh