dmaRe the placementBasically the investors putting up the...

dma

Re the placement

Basically the investors putting up the initially $300K are backing the directors. What the directors are saying is -we will issue you 60 million options at .005c each and the upside is if we can get this up and running the there is plenty of blue sky

at 10c SP the converted options are worth
$4.5m after costs
at 20c SP the converted options are worth
$10.5m after costs
at 30c SP the converted options are worth
$16.5m after costs
at 40c SP the converted options are worth
$22.5m

In my book it is a excellent punt particularly if you have confidence in the directors

As I said previously a smart way to raise some capital with upside for all if you are confident that you have some upside and that all comes back to the assets which from other posters sounds good