A bold move, though I think extremely wise and strategic (will stop the share price being played with in regards to what everyone was waiting for... a capital raising). Sure, the dilution is large, but... not when compared to what most developers who end up tapping the market multiple times to finally become 'fully funded' end up with.
Hopefully we will see long lead items being ordered whilst capex is starting to stabilize, plus, with staffing costs moderating in W.A, it's a great time to build a mine, when no other gold mines are being built (of scale).
Will be interesting to see what GOR do.
Ann: Underwritten A$600M Equity Raising, page-4
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