I have said for months the $30m cap raise they completed in November would prevent further dilution when it came to the CAPEX required. When the board come out and make statements like so, it undermines that trail of thought.
It's astonishing to me that there has been no discussion on the above but the masses have fixated on the 3-tranche approx. 3m freebie shares to BoD. We are talking about $40m AUD which equates to roughly 40-65m SOI dependent on the price at raise. That's 10-15% dilution to current shareholders.
Given the debt facilities afforded to Calidus, Bellevue, Degrey and the likes in recent years and the FCF expected to be generated on a full year of operation at Hillgrove it truly would be a disastrous outcome
LRV Price at posting:
93.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)