Any SPP takers, page-6

Isn't Patterson's underwritting 2.5 million dollars worth of the SPP. So really OEX only have to worry about the other 2.5 million if it goes pear shaped to get their 5 million. Although from experience in the spec end of town just because a broker says they will underwrite an offer does not mean they will do it;

Yes exactly, I've seen Pattos renege on their underwriting obligations a couple of times of recent times so I wouldn't categorically count on anything. I also do not like placements that don't give a fixed share price but expect you to participate blindly, it smells of uncertainty and lack of confidence. At current share price expect a placement at 4.5c, which is another 111mill shares to be issued if fully subscribed. It's not exactly how I saw it panning out when the share price closed at 21c late July as a result of positive drilling.