Member Info for oztrader

On massive volume ! lol

Ian Middlemas took up his entitlement in full. Awaiting the BOD's notice of shortfall allocation and possible placement of the balance. Good vote of confidence from Ian and the board IMHO.

I don't answer stupid questions. The market cap of a company is determined by the market. I have seen companies trading both below and above their cash backing. One also has to remember extra shares are issued, so why do you think the market cap will suddenly go up by the amount raised ? I thought anyone with half a brain would have known that. No I am not a director.

I reckon they'll have no problem placing the remainder of the shortfall. The BOD's have good contacts and should have no problems finding someone to take the balance. Now we just have to wait for a good story.

A lot of holders agree with newmsx and didn't take up the offer. In fact only 19,158,525 shares were taken up, leaving a shortfall of 56,510,305 shares. From memory the BOD's will take 25,000,000, with the rest (31,510,305) going to "nominated parties" within 3mths. So they only raised approx. A$2mil after costs. That should see them through for a few more months .......... lol.

It will be interesting to see the shortfall when it is announced tomorrow.

Just checked, 4.6p will put me back in the black. Hanging in there for a new project.

We'll find out how many others didn't take up the offer. I suppose there would be many like newmsx, who understandably didn't want to flog the dead horse.

Probably the latter, however I only need 6p to get my money back, which I'm confident of doing in the future.

Looks like the bod will get newmsx's shares.

Yes SS, took up my entitlement of 400k shares

How were you short changed ? You got 1 share for every 30 you owned. You then were given the opportunity to take up another 5 shares for every share you owned (post consolidation). Up to you whether or not you take them up but the BOD have sought approval to take up to 25mil shares from those who choose not to.

Q: Can anybody tell me why there's no news off bods. A: There is no news to tell. Q: why we were short changed on the consolidation. A: We weren't ..........the market determines the price.

To be able to offer 500k WHER's the holder must have had 3mil shares prior to consolidation. 3,000,000 divided by 30 (consolidation) = 100,000 x 5 rights per share =500,000.

WHE up another 7.8% to 6.9c on the open here but WHER still being offered at .2c or 5.2 after exercise. >500k WHER available at .2c ......... hmmmm

The fully paid shares were trading on the ASX today at 6.4c, however, the rights (WHER) were being offered at .002c. With 5c to pay on the rights, makes them look cheap at 5.2c when compared to the FPO's .......... Something doesn't add up !

Still except a name change down the track, and a move away from 'energy' as the current name now suggests.

Hi SS, I wouldn't be expecting an RNS prior to getting the issue bedded down. Re: woken from its slumber.....I'm thinking along the lines of a leak on a planned project. The doomsayers will be suggesting the share price is being pushed up so as to get the issue done and dusted but I think otherwise. The BOD's have put some pretty amazing deals together over the years. I'm hoping GOLD ! ....... Time will tell.

Ian Middlemas, Mark Hohnen & Mark Pearce have sought approval, to take up, up to 25,000,000 shortfall shares between them, being 10mil, 10mil & 5mil respectively, at 5c per share (currently trading at 6.2c bid)

With the BOD willing to take on shortfall, wouldn't it be in their interest to see the issue NOT fully subscribed to ?