people who take up shares in the placements seem to do fine....

people who take up shares in the placements seem to do fine. recently the company issued a total of 133m shares at .75c - but with a free option. no doubt the recent spike, saw a lot of stock sold into the rally (there were plenty of 1m lots dumped into the market).

the cold hard facts are , that over time, most people lose on the stock. the people who make the money, need the mugs, to buy the stock.

in the past, watso has tracked the consolidations - but cannot be bothered to look again - but there have been many. 2 years ago, the company had less than 100m shares on issue - and two years later, there are 500m shares on issue.

the company needs to raise funds - a prospectus issue will mean that there will be another massive issue of shares - and maybe time for another consolidation.

anyway, the shares are not going to see 10c... whatever there is at centenary, there is not going to be much ore. watso was not remotely surprised to see the share price retreat today. give it time, and it will be back to 1c