If Nyrstar was willing to pay 15mil (at 35c per share) and fundamentally speaking, apparently prospects have improved with expected upgrade in resource JORC. Why in the world have management decided to do a cap raising at 24cents??
Add to the fact that only 2 weeks ago, we were told the company was doing well financially (11 mil) and the DFS was on track to complete in December.
I have lost trust in management and sold out this morning at a small profit. May buy in again at a much lower price if there is a clear plan to mine development and the SI dumps their shares later in the next few weeks.
The board will definitely have some explaining to do tomorrow at the AGM.
notice received, page-39
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