Well it all looks straight forward to me. 4.8 and being placed...

Well it all looks straight forward to me. 4.8 and being placed to institutional s and large shareholders.

It would not be spelt out so plainly if those placements had not already indicated their take-up.

The recent drop in share-price is in my view a reflection of the company sounding out interested parties and of course the drop in the silver price.

In Jan/feb we had an accumulation of 275 million shares and from March to the present a sell off of 205 million which is pretty solid when one considers the rumours and drop in silver.

Once the capital raising has been confirmed I would expect the price to return to about 6.5 to 7 cents on its recent momentum but perhaps a slightly higher silver price needed too.

The strong buying of dips on paper silver contracts, the drop in short positions and the growing shortage of physical says to me that the bottom, if not in, is very close.

just 2 cents