mirabela 80m capital raising , page-24

Hbswrx,
I see you concern for a capital raising as a dilution of your holding. I'm sure the banks conditions are going to be alot worst than the dilution e.g just for arranging the deal they got a couple of million shares, ok they need to pay at a later date some money at a higher price for them.
But the announcement doesn't say how or whom any new shares will be issued eg maybe Dundee( largest shareholder) or a few funds.
Anyway it seems to me that the cash burn on developing the mine has exhusted the ready funds and the banks are playing games knowing this in a hope of extracting a better deal. MBN needs cash NOW! to complete the mine on time, why not tap the shareholders for funds now for money in the bank next month. Shares can be bought back later which will support the share price later.
I'm a long term holder since the float and hold quite a few shares, i'm happy to put more in if asked!