I can stomach the 5c but the options no. They would have had a sizeable take-up from shareholders at 5c (without an option) if they included a share plan. I know it's more expensive in the short term & takes more time to offer a SPP but in the mid-long term these placements with low option hurdles cost the company & in particular long term shareholders the most.
Ann: $7M Placement to Advance Mandilla & Feysville Gold Projects, page-4
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