Hi swordfish, Regarding the capital raising (actually this is...

Hi swordfish,

Regarding the capital raising (actually this is for everyone). From announcement on 1st March.

"The placement of 120 million new fully paid ordinary shares at A$0.04 per share will be
conducted in two tranches. The first tranche of 60.8m new shares will be placed under the
15 per cent placement capacity of the Company in accordance with ASX Listing Rule 7.1.
Tranche 2 will be for a maximum of 59.2m new shares and will be subject to shareholder
approval at a meeting expected in early April 2012."

So, both tranches are issued at 4c. It states it pretty clearly. The meeting is on the 20th - next Friday. So, unless they can get out of it (BellPotter that is), who is going to take up the shares at 4c? The answer is no one at the moment. I have asked management whether Bells can get out of it or if they're underwriters but my email has been getting ignored. If it is going to go through 100%, then what do we think has to happen to the price?

or am I missing something??