Dilution isn't good but let's take a look at the bigger picture. They have mentioned that they need the money for working capital and drilling. That basically confirms that the tailings project is going to go ahead. And it also means an extensive drilling program that can only add value exposing the potential of the area. You can't have it both ways. On the one hand people want drill results but don't want to dilute shares by raising the money to drill. Also working capital of 1-2 million is not a great deal. Mining is expensive. But it is rewarding if done well. I believe that the company is heading in the right direction. Not where the day traders want but where the long term holders want. Every one just relax. Significant re rate still on the way.
CDB Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
