Ann: Dacian Launches Fully Underwritten A$40m Equity Raising, page-8

there is no benefit here for us right?
Wrong.
As a shareholder you get to participate in a share purchase plan for an issue at 28 cents .But the company has cruelly reduced the SPP to a total of $5m ..so that the participants in the placement - mainly the substantial former NTM gold shareholders like DGO - can exercise greater control over the fallen Dacian .
Dacian coffers will be filled with $40m but half of that will be consumed in greenfields exploration as the present CEO goes chasing elephants in tenements that have been swept over for decades. .
It is time to weep mr 3008.