No Sir, I must object to that point of view. The destruction of SH wealth in the drop from 2.4 to 1.9 (should that happen) is utterly unacceptable.
Further IMO it is contrary to the main purpose of the company which is to act for the benefit of existing stakeholders, meaning mainly shareholders.
Read this post by @vmp, with thanks, which refers to a placement at 17c when the SP is only 15c in another tightly held company. https://hotcopper.com.au/posts/38019835/single
Sure the one at a premium was only 100k while the other was 5m - and you might say 5m deserves a good discount - but I think not. Put bluntly, if you are not in, and want a big stake, you should not be subsidized by existing shareholders.
Ann: Antipa Raises $5.1M to Accelerate Exploration & Development, page-32
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