cap raising, page-3

I agree with Kate - this raising has been structured and timed to allow someone to come in and take a chunk of shares cheaply whilst making it unappealing to existing holders. There is no urgent need of cash and they could certainly get more results on the board to push the price up before a raising.
They could also lengthen the time for the cash by stopping the fees going out the door for running a business that generates no operating income.
Been a shareholder in golden shower resources and sick of feeling like those in control are pissing investor value away.