Ronstieb, one would sell on the day of ex-entitlement so they...

Ronstieb, one would sell on the day of ex-entitlement so they know they are going to be on the record date no matter what, so i find it quite strange for a price drop today... Possibly because of the additional unexpected rights issue due to the placements at 21cents...

Now with regards to the rights issue, I feel its a very safe bet for them to complete it with near 80-100% take up. These are the reasons why I believe this:

Firstly, Albers has 35odd million shares - which he would most likely take up otherwise he would've given his share to sophs or other investors that seem to be very keen in the artemis prospect (as per the HEAVILY over subscription for MEO). To add to this, Albers consistently participates in most of his issues such as BAS and other co's he owns...

12M is being issued to sophs and insto investors who recently participated in the 12M issue at 21cents. I see no problem in sophs taking up their share for the rights issue, especially because Albers wouldn't have issued the shares to them at cum entitlement if they didn't show sufficient interests in taking up more shares... If you don't understand what i mean please see the announcement how the rights issue has now changed from 79M shares to 91M shares.

The rest is 40-50M shares held by us retail investors and some institutional... That represents less than 50% of the total rights issue, and if this take-up is say 70-80% the remainder becomes available to shareholders who participated in the rights issue and given the euphoria surrounding Artemis, I for one would snap this up given the opportunity...

Now with regards to the risks, the major is fairly obvious, MOG has to raise at least 19M for the drill otherwise they will not be able to farm in for their stake in Cornea/Braveheart... The rest of the risks are all common to resources/ oil and gas plays and if your not comfortable with them then you shouldn't be wasting your time with species and stick to mum and dad stocks...

I think the major fact that everyone on this forum is forgetting is that Geoffery Albers will have 180M shares in MOG after Rankin Trend issue and Rights issue (assuming he takes up his rights), THATS ONE HUNDRED EIGHTY MILLION!
By far his biggest stake in any company for a long time... His 35 years of experience and confidence gives me confidence, it seems this is make it or break it for him and I'm willing to ride along...