Purchased soem of the private placementThere is a 4 month hold as of Dec 14th I believe, not a 100% sure on the warrants and the timing there. Purchased this as a long term hold as the Ux sector is going to boom even louder in 2007,, EFR should be inline with the other near term producers provided it isn't gobbled up, Mr Farmer from DML has expressed interest in more acquisition, having just closed a merger and buying another Australian company.
The way I understand the private placement is EFR ammended the original PP of $1.40/share and $2.20/warrant to $1.75/share and $2.20/warrant (which is really a 1/2 warrant) and they executed the over alotment. Which is common for a stock of this value. I also understand that 80% of the placement went to institutions, I am assuming hedge funds and mutual funds. Leaves 20% for remaining investors. Of which I was only able to capture 30% of what I wanted. In summary should not be much down side even after the 4 month period is up.