New bidder enters AWE race, page-65

Evening Fred - can I ask how you arrived at the 88 million mark? I don't have the figures so its a genuine enquiry.

I would have thought that AWE would have worked on a rough plan / guesstimate re the assumed percentage uptake / allotment parcels and arrived at a rough new capital issue that would have got them to their $10 m mark - give or take a million or so. I would not have thought that they would have worked on a figure that would get them to the $88 million.

I acknowledge that the issue price being considerably below the market price will increase the uptake.

Thanks