EPD, could this go to 40p per share?

There it is. The announcement I was waiting for. This is the reason I could not post any positive information about the company. Because I found out that they were doing a placing before it had been announced.

I tried to persuade them not to and others did too, but it appears that they had been arranging it for sometime before the AGM. At the AGM they stated that they might need to raise cash in the near future for additional work in Finland, but even when I discussed this with them, they told me that it would not be until AFTER the share price rose on the first major sale of diamonds.

As we know, they are planning to do this sale in late January and when I found out that they were doing an issue I sought to confirm when it would be done. The sad news is that they were intent on doing it straight away. I tried to persuade them not to. So did James Picton. But they have ignored us. How this will effect the share I do not know. But I tend to thjink it will show that they are not extracting enough diamonds - even now - to fulfill their promises to be at 290k per annum by the end of 2005.

I couldn't possibly post anything positive about EPD whilst I knew that they were about to do a placing and I could not report the placing to stop it, as that would be a breach. I did not get a direct disclosure from the company. Kerry and I spoke about it and I recorded the call to make sure we did not cross a line. The sad truth is that it was confirmed by another way and when I knew this I was limited (by my own code and the FSMA) in what I could say.

Now you know.