Ann: Update on Capital Raising and Operations , page-2

"Further to the announcement of 7 May 2012, Alcyone Resources Limited (ASX: AYN; ‘Alcyone’ or ‘the Company’)
advises that, due to the recent adverse conditions and instability in global financial markets, the Company’s share placement will now be undertaken at an issue price of 4.8 cents per share and raise a total of $3.5 million.

The revised share placement will comprise 72,916,667 shares at an issue price of 4.8 cents per share, plus one free attaching option for each two new shares issued, exercisable at 6 cents per share and expiring on 14 May 2015, to raise a total of $3.5 million. Casimir Capital LP was Lead Manager to the share placement."

My comments:

AYN closed today well below 4.8 cents and we have more "instability in global financial markets" again tonight. Silver is currently well down at US$28.39.

Let's hope the commitments at 4.8 cents are firm. I don't want to think about what happens if they are not locked in at 4.8 cents.

Good luck to everyone holding AYN.

Kind regards,
Siameseparrot.